TransMontaigne Partners L.P. Announces Public Offering of Common Units
09 November 2017 - 8:37AM
Business Wire
TransMontaigne Partners L.P. (NYSE:TLP) (the “Partnership” or
“we”) today announced the commencement of an underwritten public
offering to sell 2,500,000 common units representing limited
partner interests in the Partnership (the “Common Units”) or up to
an aggregate of 2,875,000 Common Units if the underwriters exercise
their option to purchase additional Common Units in full (the
“Offering”). 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 fund a portion of the purchase price
for the previously announced acquisition of two West Coast refined
products and crude oil storage terminals in the San Francisco Bay
Area, known as the Martinez Terminal and Richmond Terminal, from an
affiliate of Plains All American Pipeline, L.P. (the “Acquisition”)
and for general partnership purposes. The Offering is not
conditioned on the consummation of the Acquisition. If the
Acquisition is not consummated, the Partnership intends to use the
net proceeds from the Offering for general partnership
purposes.
BofA Merrill Lynch will act as the lead book-running manager for
the Offering.
When available, copies of the preliminary prospectus supplement,
prospectus supplement and accompanying base prospectus relating to
the offering may be obtained free of charge on the Securities and
Exchange Commission’s website at www.sec.gov or from the
underwriters of the offering as follows:
BofA Merrill LynchNC1-004-03-43200 North College Street, 3rd
floorCharlotte, NC 28255-0001Attention: Prospectus DepartmentEmail:
dg.prospectus_requests@baml.com
The Common Units will be offered and sold pursuant to an
effective shelf registration statement previously filed with the
Securities and Exchange Commission. This press release does not
constitute an offer to sell or the 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 is being made only by means of a
prospectus and related prospectus supplement meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
About TransMontaigne Partners
L.P.
TransMontaigne Partners L.P. is a terminaling and transportation
company based in Denver, Colorado with operations in the United
States along the Gulf Coast, in the Midwest, in Houston and
Brownsville, Texas, along the Mississippi and Ohio Rivers and in
the Southeast. We provide integrated terminaling, storage,
transportation and related services for customers engaged in the
distribution and marketing of light refined petroleum products,
heavy refined petroleum products, crude oil, chemicals, fertilizers
and other liquid products. Light refined products include
gasolines, diesel fuels, heating oil and jet fuels. Heavy refined
products include residual fuel oils and asphalt. We do not purchase
or market products that we handle or transport.
Forward-Looking Statements
This press release includes statements that may constitute
forward-looking statements. Although the Partnership believes that
the expectations reflected in such forward-looking statements are
based on reasonable assumptions, such statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected. A number of factors could cause
actual results to differ materially from the Partnership’s
expectations and adversely affect its business and results of
operations, including the Partnership’s ability to close
successfully on the Common Units offering and to use the net
proceeds as indicated in this press release. See “Item 1A. Risk
Factors” in the Partnership’s Annual Report on Form 10-K for the
year ended December 31, 2016, filed with the Securities and
Exchange Commission on March 14, 2017, and other public filings and
press releases. Except as required by law, the Partnership
undertakes no obligation to publicly update or revise any
forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20171108006603/en/
TransMontaigne Partners L.P.Frederick W. Boutin,
303-626-8200Chief Executive OfficerorRobert T. Fuller,
303-626-8200Chief Financial Officer
Transmontaigne Partners L.P. Transmontaigne Partners L.P. Common Units Representing Limited Partner Interests (NYSE:TLP)
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