TransMontaigne Partners L.P. Announces Pricing of Public Offering of Senior Notes
08 February 2018 - 8:16AM
Business Wire
TransMontaigne Partners L.P. (NYSE:TLP) (the “Partnership”)
today announced the pricing of the previously announced public
offering (the “Offering”) of $300 million in aggregate principal
amount of senior unsecured notes due 2026 (the “Notes”) of the
Partnership and TLP Finance Corp., the Partnership’s wholly owned
subsidiary. The Notes mature on February 15, 2026, will pay
interest at the rate of 6.125% per year and were priced at par. The
expected settlement date for the Offering is February 12, 2018,
subject to the satisfaction of customary closing conditions.
The Partnership intends to use the proceeds from the Offering to
repay existing indebtedness under its revolving credit facility,
for general partnership purposes, and to pay transaction fees and
expenses.
RBC Capital Markets, BofA Merrill Lynch, Citigroup, Credit
Suisse, MUFG and Wells Fargo Securities are acting as joint
book-running managers for the Offering. ABN AMRO, BMO Capital
Markets, PNC Capital Markets LLC, US Bancorp and BBVA are acting as
co-managers.
When available, copies of the 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:
RBC Capital Markets200 Vesey Street, 8th FloorNew York, NY
10281Attention: High Yield Capital MarketsEmail:
usdebtcapitalmarkets@rbccm.comFax: (212) 618-2210
The Notes are being 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, in the
Southeast and on the West Coast. 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, and
heavy refined products include residual fuel oils and asphalt.
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. 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/20180207006254/en/
TransMontaigne Partners L.P.Frederick W. Boutin,
303-626-8200Chief Executive OfficerorRobert T. Fuller,
303-626-8200Chief Financial Officer
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