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Provider: Reuters Investment Profile
Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime
Provider: GlobalData

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Suburban Propane Partners LP Announces Pricing Of Public Offering Of Common Units

Tuesday, 14 May 2013 08:29am EDT 

Suburban Propane Partners LP announced that its underwritten public offering of 2,700,000 common units representing limited partner interests in Suburban was priced at $48.16 per common unit to the public for total net proceeds (after considering underwriter commissions and other estimated offering expenses) of approximately $124.6 million (or approximately $143.4 million if the underwriters exercise in full their option to purchase 405,000 additional common units). Suburban expects the delivery of the common units to occur on May 17, 2013, subject to customary closing conditions. Suburban intends to use the net proceeds from this offering and from any exercise by the underwriters of their option to purchase additional common units to repay outstanding senior unsecured indebtedness up to an aggregate principal amount of $135 million, and any remainder for working capital and general partnership purposes. 

Company Quote

15 Sep 2014