Key Developments: Buckeye Partners LP (BPL)

BPL on New York Consolidated

77.96USD
24 Dec 2014
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$0.85 (+1.10%)
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Latest Key Developments (Source: Significant Developments)

Buckeye Partners announces closing of acquisition of 80 pct interest in Corpus Christi Terminal Complex and Associated Eagle Ford Assets in South Texas
Tuesday, 16 Sep 2014 04:15pm EDT 

Buckeye Partners:Completes its $860 mln purchase of an 80 percent interest in Buckeye Texas Partners LLC.Buckeye Texas Partners LLC and its subsidiaries, which are owned jointly with Trafigura AG (Trafigura), will own and operate a vertically integrated system of midstream assets.Trafigura will be a key customer of these assets under 7- to 10-year minimum volume throughput, storage and tolling agreements.  Full Article

Buckeye Partners L.P. Prices $600 Million Offering of Senior Notes
Tuesday, 9 Sep 2014 04:43pm EDT 

Buckeye Partners, L.P:Says prices an offering of $600 million aggregate principal amount of senior unsecured notes, including $300 million 4.35 pct senior notes due 2024 and $300 million 5.60 pct senior notes due 2044 at 99.825 pct and 99.876 pct of par, respectively.Expects the offering to close on Sept. 12.Expects to receive net proceeds after deducting the underwriting discount and offering expenses in connection with the offering of about $598.4 million.Intends to use the net proceeds from the offering.to fund a portion of the purchase price of the previously announced transaction with Trafigura Corpus Christi Holdings Inc and related expenses.to fund the redemption of all $275 million aggregate principal amount of the outstanding 5.300 pct notes due Oct. 15.for general partnership purposes, including the settlement of existing interest rate swaps and prepayment of amounts due under the credit facility.Says J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are acting as joint book-running managers.  Full Article

Buckeye Partners LP upsizes and prices offering of limited partnership units
Wednesday, 3 Sep 2014 05:00pm EDT 

Buckeye Partners LP:Prices a public offering of 6,750,000 limited partnership units representing limited partner interests pursuant to an effective shelf registration statement at $80.00 per LP Unit.Offering was upsized from the previously announced public offering of 5,500,000 LP Units.Underwriters have been granted an option to purchase up to 1,012,500 additional LP Units.Intends to use the net proceeds from this offering to fund a portion of the purchase price of the previously announced transaction with Trafigura Corpus Christi Holdings Inc and for general partnership purposes.  Full Article

Buckeye Partners LP to offer limited partnership units
Tuesday, 2 Sep 2014 04:14pm EDT 

Buckeye Partners LP:Commences a public offering of 5,500,000 limited partnership units representing limited partner interests pursuant to an effective shelf registration statement.Expects to grant the underwriters an option to purchase up to 825,000 additional LP Units.Intends to use the net proceeds from this offering to fund a portion of the purchase price of the previously announced transaction with Trafigura Corpus Christi Holdings Inc and and for general partnership purposes.  Full Article

Buckeye Partners LP acquire 80 pct interest in Corpus Christi Terminal Complex and Associated Eagle Ford assets in South Texas
Tuesday, 2 Sep 2014 04:01pm EDT 

Buckeye Partners LP:Signs definitive agreement to acquire 80 percent interest in company that will be owned jointly with Trafigura AG (Trafigura) for $860 mln.Company and its subsidiaries will own and operate vertically integrated system of midstream assets.Including a deep-water, high volume marine terminal located on the Corpus Christi Ship Channel, a condensate splitter and LPG storage complex in Corpus Christi, and three crude oil and condensate gathering facilities in the Eagle Ford shale.All of the assets are supported by 7- to 10-year minimum volume throughput, storage and tolling agreements with Trafigura.This transaction is expected to close later in Sept. 2014.  Full Article

Buckeye Partners LP prices offering of limited partnership units
Tuesday, 12 Aug 2014 09:00am EDT 

Buckeye Partners LP:Announced that it has priced a public offering of 2,600,000 limited partnership units representing limited partner interests pursuant to an effective shelf registration statement at $76.60 per unit.Underwriter has been granted an option to purchase up to 390,000 additional LP Units.Intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility and for general partnership purposes.  Full Article

Buckeye Partners LP to offer limited partnership units
Monday, 11 Aug 2014 04:08pm EDT 

Buckeye Partners LP:Announced that it has commenced a public offering of 2,600,000 limited partnership units representing limited partner interests pursuant to an effective shelf registration statement.Expects to grant the underwriter an option to purchase up to 390,000 additional LP Units.Intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility and for general partnership purposes.Barclays is acting as the sole underwriter of the LP Unit offering.  Full Article

Buckeye Partners LP declares cash distribution
Friday, 8 Aug 2014 08:29am EDT 

Buckeye Partners LP:Declares a cash distribution of $1.1125 per limited partner unit for the quarter ended June 30.Payable on Aug. 25, to unitholders of record on Aug. 18.  Full Article

Buckeye Partners LP announces agreement to sell interests in Lodi Gas Storage, L.L.C
Tuesday, 29 Jul 2014 08:01am EDT 

Buckeye Partners LP:Signs purchase and sale agreement to sell all of the outstanding limited liability company interests in Lodi Gas Storage L.L.C. (Lodi) to Brookfield Infrastructure and its institutional partners (Brookfield) for $105 mln.Deutsche Bank Securities Inc. acted as the exclusive financial advisor to Buckeye in connection with the transaction.  Full Article

Buckeye Partners declares cash dividend
Friday, 2 May 2014 08:00am EDT 

Buckeye Partners LP:Declares a cash distribution of $1.10 per limited partner unit.Payable on May 19 to unitholders of record on May 12.  Full Article

Buckeye says 7 U.S. pipelines overbooked for January 2015

Dec 16 - Buckeye Partners LP said on Tuesday nominations for seven of its refined product pipeline segments in the United States were overbooked for January 2015.

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