HOUSTON, Nov. 09, 2017 (GLOBE NEWSWIRE) — Buckeye Partners, L.P. (“Buckeye”) (NYSE:BPL) announced today that it has priced an offering of $400 million aggregate principal amount of 4.125% senior unsecured notes due 2027 at 99.503% of par. Buckeye anticipates the offering will close on November 20, 2017, subject to customary closing conditions. Buckeye expects to receive net proceeds after deducting the underwriting discount and offering expenses in connection with the offering of approximately $394.4 million. Buckeye intends to use the net proceeds from this offering in addition to a portion of the net proceeds from one or more potential future capital markets transactions (which may include an offering of subordinated notes) (i) to fund the redemption of all $300.0 million aggregate principal amount of its outstanding 6.050% notes due January 15, 2018 and (ii) to repay borrowings under its revolving credit facility.
Barclays Capital Inc., PNC Capital Markets LLC and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers of the senior unsecured notes offering. BB&T Capital Markets, a division of BB&T Securities, LLC, BNP Paribas Securities Corp., Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc. are acting as the passive book-running managers and BBVA Securities Inc. is acting as the co-manager.
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.
Copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained from: Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at [email protected], or by telephone at (888) 603-5847; PNC Capital Markets LLC, 300 Fifth Ave., Floor 10, Pittsburgh, PA 15222, Attn: Kathleen Riley, by email at [email protected], or by telephone at (855) 881-0697; or SunTrust Robinson Humphrey, 303 Peachtree Street, Atlanta, Georgia 30308, Attn: Prospectus Department, by email at [email protected], or by telephone at (800) 685-4786. You may also obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov.
