Key Developments: Buckeye Partners LP (BPL.N)

BPL.N on New York Stock Exchange

71.35USD
1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

Buckeye Partners LP Prices $500 Million Offering Of Senior Notes
Monday, 3 Jun 2013 04:15pm EDT 

Buckeye Partners LP announced that it has priced $500 million of senior unsecured notes at 99.810% of par. The 4.15% notes mature July 1, 2023. Buckeye expects the offering to close on June 10, 2013, subject to customary closing conditions. Buckeye expects to receive net proceeds after deducting the underwriting discount and offering expenses in connection with the offering of approximately $495.8 million. Buckeye intends to use the net proceeds from the offering for the repayment of amounts outstanding on the maturity of the $300.0 million principal amount of its 4.625% Notes due July 15, 2013, and for general partnership purposes. Barclays Capital Inc., SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC and UBS Securities LLC are acting as joint book-running managers of the senior unsecured notes offering. Deutsche Bank Securities Inc., RBC Capital Markets, LLC, SMBC Nikko Capital Markets Limited and BB&T Capital Markets, a division of BB&T Securities, LLC, are acting as the co-managers of the offering.  Full Article

Buckeye Partners LP Announces Offering of Senior Notes
Monday, 3 Jun 2013 09:30am EDT 

Buckeye Partners LP announced that it plans to issue senior unsecured notes pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. Buckeye intends to use the net proceeds from the offering for the repayment of amounts outstanding on the maturity of the $300.0 million principal amount of its 4.625% Notes due July 15, 2013, and for general partnership purposes. Barclays Capital Inc., SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers of the senior unsecured notes offering.  Full Article

Buckeye Partners LP Increases Quarterly Cash Distribution
Friday, 3 May 2013 08:00am EDT 

Buckeye Partners LP announced that general partner declared a cash distribution of $1.05 per limited partner (LP) unit for the quarter ended March 31, 2013. Class B unit holders will not receive a distribution of cash, but instead will be issued additional Class B units pursuant to Buckeye's partnership agreement. The distribution will be payable on May 31, 2013 to unit holders of record on May 16, 2013. This cash distribution represents a 1.2% increase over the $1.0375 per LP unit distribution declared for the first quarter of 2012.  Full Article

Buckeye Partners LP Declares Cash Distribution
Friday, 8 Feb 2013 08:30am EST 

Buckeye Partners LP announced that its general partner has declared a cash distribution of $1.0375 per limited partner (LP) unit for the quarter ended December 31, 2012. Class B unitholders will not receive a distribution of cash, but instead will be issued additional Class B units pursuant to Buckeye's partnership agreement. The distribution will be payable on February 28, 2013, to unitholders of record on February 19, 2013.  Full Article

Buckeye Partners LP Prices Offering Of Limited Partnership Units
Thursday, 24 Jan 2013 09:02am EST 

Buckeye Partners LP announced that it has priced a public offering of 6,000,000 limited partnership units representing limited partner interests (LP Units) pursuant to an effective shelf registration statement at $52.54 per unit. The underwriters have been granted an option to purchase up to 900,000 additional LP Units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness outstanding under revolving credit facility. Barclays, Citigroup, Morgan Stanley, Wells Fargo Securities, Deutsche Bank Securities, J.P. Morgan and UBS Investment Bank are acting as joint book-running managers of the LP Unit offering. RBC Capital Markets and Jefferies are acting as the co-managers of the LP Unit offering.  Full Article

Buckeye Partners LP Commences Public Offering Of 6,000,000 Limited Partnership Units
Wednesday, 23 Jan 2013 04:11pm EST 

Buckeye Partners LP announced that it has commenced a public offering of 6,000,000 limited partnership units representing limited partner interests (LP Units) pursuant to an effective shelf registration statement. Buckeye expects to grant the underwriters an option to purchase up to 900,000 additional LP Units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility. Barclays, Citigroup, Morgan Stanley, Wells Fargo Securities, Deutsche Bank Securities, J.P. Morgan, and UBS Investment Bank are acting as joint book-running managers of the LP Unit offering.  Full Article

Buckeye Partners LP Declares Cash Distribution
Friday, 2 Nov 2012 07:00am EDT 

Buckeye Partners LP announced that its general partner declared a cash distribution of $1.0375 per limited partner ("LP") unit for the quarter ended September 30, 2012. Class B unitholders will not receive a distribution of cash, but instead will be issued additional Class B units pursuant to Buckeye's partnership agreement. The distribution will be payable on November 30, 2012, to unitholders of record on November 12, 2012.  Full Article

Buckeye Partners LP Declares Cash Distribution
Friday, 3 Aug 2012 08:00am EDT 

Buckeye Partners LP announced that it has declared a cash distribution of $1.0375 per limited partner (LP) unit for the quarter ended June 30, 2012. Class B unitholders will not receive a distribution of cash, but instead will be issued additional Class B units pursuant to Buckeye's partnership agreement. The distribution will be payable on August 31, 2012 to unitholders of record on August 15, 2012. This cash distribution represents a 2.5% increase over the $1.0125 per LP unit distribution declared for the second quarter of 2011.  Full Article

Buckeye Partners, L.P. Completes Acquisition of Liquid Petroleum Products Terminal in New York Harbor
Thursday, 26 Jul 2012 05:31pm EDT 

Buckeye Partners, L.P. announced that it has completed its purchase of a marine terminal facility for liquid petroleum products in New York Harbor from Chevron U.S.A. Inc. (Chevron) for $260 million in cash. The facility sits on approximately 250 acres in Perth Amboy, New Jersey and is located only six miles from Buckeye's Linden, New Jersey complex. It features over four million barrels of storage, four docks on the Arthur Kill, and pipeline, rail, and truck access.  Full Article

Buckeye Partners, L.P. Declares Quarterly Cash Distribution
Friday, 10 Feb 2012 07:02am EST 

Buckeye Partners, L.P. announced that its general partner declared a cash distribution of $1.0375 per limited partner (LP) unit for the quarter ended December 31, 2011. Class B unit holders will not receive a distribution of cash, but instead will be issued additional Class B units pursuant to Buckeye's partnership agreement. The distribution will be payable on February 29, 2012 to unit holders of record on February 21, 2012. This cash distribution represents a 5.1% increase over the $0.9875 per LP unit distribution declared for the fourth quarter of 2010.  Full Article

UPDATE 1-Buckeye's New Jersey petroleum connection ahead of schedule

May 3 - A project to connect Buckeye Partners LP's Perth Amboy, New Jersey, terminal to a pipeline transportation hub in nearby Linden is about three months ahead of schedule, Buckeye Chief Executive Clark Smith said on Friday.

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