Magellan Midstream Prices $650 Million Debt Offering

TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has priced $650 million of its 5.00% senior notes due 2026. The notes were priced at 99.875% of par to yield 5.016% to maturity. The partnership intends to use the net proceeds from this offering of approximately $644.5 million, after deducting underwriting discounts and estimated offering expenses, for general partnership purposes and to repay borrowings outstanding under its revolving credit facilities, if any, and its commercial paper program.

The offering is expected to close on Feb. 29, 2016 and is subject to customary closing conditions. Barclays Capital Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, PNC Capital Markets LLC and SMBC Nikko Securities America, Inc. are joint book-running managers for the debt offering, with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., RBC Capital Markets, LLC and SunTrust Robinson Humphrey, Inc. acting as co-managers.

The offering may be made only by means of a prospectus supplement and accompanying base prospectus. Copies of these documents may be obtained from:

  • Barclays Capital Inc., c/o Broadridge Financial Solutions, Inc., 1155 Long Island Avenue, Edgewood, NY 11717, e-mail: barclaysprospectus@broadridge.com, phone: 1-888-603-5847;
  • U.S. Bancorp Investments, Inc., 214 North Tryon Street, 26th Floor, Charlotte, NC 28202, phone: 1-877-558-2607; and 
  • Wells Fargo Securities, LLC, 608 2nd Avenue, South Minneapolis, MN 55402, Attn: WFS Customer Service, e-mail: wfscustomerservice@wellsfargo.com, phone: 1-800-645-3751.

Electronic copies of the prospectus supplement and accompanying base prospectus are also available from the Securities and Exchange Commission’s website at www.sec.gov.

A registration statement relating to these securities became effective upon filing with the Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Magellan Midstream Partners, L.P.

Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. The partnership owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 95 million barrels of petroleum products such as gasoline, diesel fuel and crude oil.


Portions of this document may constitute forward-looking statements as defined by federal law. Although management believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the partnership’s filings with the Securities and Exchange Commission.

Contact Information:

Paula Farrell Investor Relations 918-574-7650 paula.farrell@magellanlp.com