Key Developments: Martin Midstream Partners LP (MMLP.OQ)

MMLP.OQ on NASDAQ Stock Exchange Global Select Market

27.97USD
19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Martin Midstream Partners LP announces quarterly cash distribution increase
Thursday, 23 Oct 2014 04:05pm EDT 

Martin Midstream Partners LP:declares a quarterly cash distribution of $.8125 per unit, or $3.25 per unit on an annualized basis, for the quarter ended Sept. 30.Says the quarterly distribution increase is $0.02 per unit or 2.5 pct higher than the distribution paid in the prior quarter.Payable on Nov. 14 to common unitholders of record on Nov. 07.Ex-dividend date for the cash distribution is Nov. 05.  Full Article

Martin Midstream Partners LP announces pricing of public offering of common units
Wednesday, 24 Sep 2014 08:36am EDT 

Martin Midstream Partners LP:Has priced its previously announced public offering of 3,000,000 of its common units at a price to the public of $36.91 per unit.The closing of the offering is expected to occur on Sept. 29.Net proceeds from the offering will be used by the Partnership to repay a portion of the outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes.BofA Merrill Lynch, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Morgan Stanley & Co. LLC, and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering.In addition, BB&T Capital Markets, a division of BB&T Securities, LLC, MLV & Co. LLC and Stephens Inc. are the co-managing underwriters.The Partnership has granted the underwriters a 30-day option to purchase up to an additional 450,000 common units in connection with the offering.  Full Article

Martin Midstream Partners announces commencement of public offering of common units
Tuesday, 23 Sep 2014 04:08pm EDT 

Martin Midstream Partners L.P:Commences underwritten public offering of 3,000,000 common units (plus up to an additional 450,000 common units pursuant to an option to be granted to the underwriters) under its existing shelf registration statement.Intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes.BofA Merrill Lynch, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Morgan Stanley & Co. LLC, and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering.  Full Article

Martin Midstream Partners LP's subsidiary completes acquisition of controlling interests in Cardinal Gas Storage Partners LLC
Tuesday, 2 Sep 2014 08:00am EDT 

Martin Midstream Partners LP:Says Redbird Gas Storage LLC, indirect wholly-owned subsidiary of partnership closed its previously announced purchase of Category A membership interests in Cardinal Gas Storage Partners LLC.  Full Article

Martin Midstream Partners L. P announces acquisition of controlling membership interests in Cardinal Gas Storage Partners LLC
Monday, 11 Aug 2014 08:00am EDT 

Martin Midstream Partners LP:Says through its indirect wholly-owned subsidiary Redbird Gas Storage LLC (Redbird), it has entered into definitive documentation with Energy Capital Partners and its affiliated funds (ECP).Says to acquire all of ECP's Category A membership interests (about 57.8 pct) in Cardinal Gas Storage Partners LLC (Cardinal).For total consideration of $120.0 mln, subject to certain post-closing adjustments.Redbird currently owns the remaining Category A membership interest (about 42.2 pct) in Cardinal.At closing, Redbird will own 100 pct of Category A interests in Cardinal and will retire about $265 mln of net project level financings currently in place at various Cardinal subsidiaries.  Full Article

Martin Midstream Partners LP announces increased quarterly cash distribution
Thursday, 24 Jul 2014 04:20pm EDT 

Martin Midstream Partners LP:Declares quarterly cash distribution of $0.7925 per unit for quarter ended June 30, 2014.Distribution is payable on Aug. 14, 2014 to common unitholders of record as of the close of business on Aug. 07, 2014.Ex-dividend date for cash distribution is Aug. 05, 2014.  Full Article

Martin Midstream Partners LP closes acquisition of certain subsidiaries of Atlas Pipeline Partners, L.P
Wednesday, 14 May 2014 04:00pm EDT 

Martin Midstream Partners LP:Closes previously announced acquisition of all of outstanding membership interests in Atlas Pipeline NGL Holdings, LLC and Atlas Pipeline NGL Holdings II, LLC (Holdings).Holdings owns 19.8 pct limited partnership interest and 0.2 pct general partnership interest in West Texas LPG Pipeline L.P. (WTLPG).WTLPG is operated by Chevron Pipe Line Company, which owns the remaining 80.0 pct interest.  Full Article

Martin Midstream announces pricing of public offering of common units
Tuesday, 6 May 2014 05:25pm EDT 

Martin Midstream Partners LP:Prices 3,600,000 of its common units at a price to the public of $41.51 per unit.Closing of the offering is expected to occur on May 12.Net proceed wll be used to repay outstanding indebtedness incurred under its revolving credit facility, and for general partnership purposes.RBC Capital Markets, LLC, BofA Merrill Lynch, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., Raymond James & Associates, Inc., and UBS Securities LLC are acting as joint book-running managers for the offering.In addition, Robert W. Baird & Co., Incorporated, Stifel, Nicolaus & Company, Incorporated, BB&T Capital Markets, a division of BB&T Securities, LLC and MLV & Co. LLC are co-managing underwriters.  Full Article

Martin Midstream Partners announces commencement of public offering of common units
Monday, 5 May 2014 04:28pm EDT 

Martin Midstream Partners LP:Commences underwritten public offering of 3,600,000 common units under its existing shelf registration statement.Intends to use the net proceeds from the offering to repay outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes.RBC Capital Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., Raymond James & Associates, Inc., and UBS Securities LLC are acting as joint book-running managers for the offering.In addition, Robert W. Baird & Co., Incorporated and Stifel, Nicolaus & Company, Incorporated are senior co-managing underwriters.  Full Article

Atlas Pipeline Partners enters into definitive agreement to sell subsidiaries holding interests in West Texas LPG Pipeline For $135 mln to Martin Midstream Partners subsidiary
Monday, 5 May 2014 03:59pm EDT 

Atlas Pipeline Partners LP:Enters into definitive agreement to sell subsidiaries that own a 20pct stake in West Texas LPG Limited Partnership to a subsidiary of Martin Midstream Partners L.P. for $135 mln in cash.Proceeds will be used to further reduce the Partnership's outstanding debt.Transaction to close during the second quarter of 2014.Citigroup Global Markets, Inc. acted as financial advisor and Jones Day acted as legal advisor for this transaction.  Full Article

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