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Martin Midstream Partners LP Announces Pricing Of Public Offering of Common Units

Tuesday, 20 Nov 2012 09:24am EST 

Martin Midstream Partners LP announced that it has priced its previously announced public offering of 3,000,000 of its common units at a price to the public of $31.16 per unit. The closing of the offering is expected to occur on November 26, 2012, subject to satisfaction of customary closing conditions. Estimated net proceeds from the offering will be used by the Partnership to repay outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. RBC Capital Markets, BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers for the offering. In addition, Baird, BB&T Capital Markets and Stephens are 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. 

Company Quote

1.27 +3.32%
22 Sep 2014