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Transmontaigne Partners LP Announces Public Offering Of Common Units


Thursday, 18 Jul 2013 04:01pm EDT 

Transmontaigne Partners LP announced the commencement of an underwritten public offering of 1,450,000 common units representing limited partner interests of the Partnership. The Partnership will also grant the underwriters a 30-day option to purchase up to 217,500 additional common units. TransMontaigne GP L.L.C., the general partner of the Partnership, is expected to make a proportionate cash contribution to maintain its 2.0% general partner interest in the Partnership. The Partnership intends to use the net proceeds from the offering, including any net proceeds from the underwriters` exercise of their option, to repay indebtedness outstanding under its senior secured credit facility and to fund a portion of its proportionate share of the construction cost of Battleground Oil Specialty Terminal Company LLC, its joint venture with Kinder Morgan Energy Partners, L.P. Morgan Stanley, BofA Merrill Lynch, Citigroup and Wells Fargo Securities will act as joint book-running managers for the offering.