(Source: PRNewswire)
HOUSTON, Aug. 11 /PRNewswire-FirstCall/ -- Buckeye Partners, L.P. (NYSE: BPL) ("Buckeye") announced today that it has priced a $275 million SEC Registered senior unsecured notes offering. The notes will have a 5.50% fixed rate coupon with an effective price to the public of 99.349% of face value to yield 5.586% to maturity. The notes will mature August 15, 2019. Buckeye expects the offering to close on August 18, 2009. Buckeye intends to use the net proceeds from the offering to reduce borrowings under its revolving credit facility and for general partnership purposes.
Barclays Capital Inc., SunTrust Robinson Humphrey, Inc., BNP Paribas Securities Corp. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. An electronic copy of the prospectus and prospectus supplement is available from the Securities and Exchange Commission's website at www.sec.gov. When available, a copy of the final prospectus supplement and related base prospectus associated with the senior unsecured notes offering may be obtained from:
Barclays Capital Inc.
c/o Broadridge Financial
1155 Long Island Avenue
Edgewood, NY 11717
1-888-603-5847
SunTrust Robinson Humphrey, Inc.
303 Peachtree Street, 24th floor
Atlanta, GA 30308
1-800-685-4786
BNP Paribas Securities Corp.
787 7th Avenue
New York, NY 10019
1-800-854-5674
Wells Fargo Customer Information Center
1525 West W.T. Harris Blvd., NC0675
Charlotte, NC 28262
Attn: Syndicate Operations
Email: prospectus.specialrequests@wachovia.com
1-800-326-5897
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus supplement and accompanying base prospectus.
Buckeye Partners, L.P. (www.buckeye.com) is a publicly traded partnership that owns and operates one of the largest independent refined petroleum products pipeline systems in the United States in terms of volumes delivered, with approximately 5,400 miles of pipeline. Buckeye Partners, L.P. also owns 64 refined petroleum products terminals, operates and maintains approximately 2,400 miles of pipeline under agreements with major oil and chemical companies, owns a major natural gas storage facility in northern California, and markets refined petroleum products in certain of the geographic areas served by its pipeline and terminal operations. The general partner of Buckeye Partners, L.P.
