Western Refining Logistics (WNRL) Prices 7.5M Common Units Offering for Proceeds of ~$167M

September 8, 2016 6:10 AM EDT

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Western Refining Logistics, LP (NYSE: WNRL) announced the pricing of a registered underwritten public offering of 7,500,000 common units representing limited partner interests, at a public offering price of $22.32 per common unit. The total gross proceeds (before the underwriting discount and estimated offering expenses) will be approximately $167.4 million. In connection with the offering, WNRL granted the underwriter a 30-day option to purchase up to an additional 1,125,000 common units. The offering is expected to close on September 13, 2016, subject to certain closing conditions.

WNRL intends to use the net proceeds from this offering to repay all of the borrowings under its revolving credit facility and to fund a portion of the cash consideration payable for WNRL’s previously announced acquisition (the SPPR Dropdown) of certain terminalling, storage and other logistics assets from St. Paul Park Refining Co. LLC (SPPR), a wholly-owned subsidiary of Northern Tier Energy LLC and indirect wholly-owned subsidiary of Western Refining, Inc. The logistics assets to be acquired by WNRL include approximately four million barrels of refined product and crude oil storage tanks, a light products terminal, a heavy products loading rack, certain rail and barge facilities, certain other related logistics assets, and two crude oil pipeline segments and one pipeline segment not currently in service, each of which is approximately 2.5 miles and extends from SPPR’s refinery in St. Paul Park, Minnesota to SPPR’s tank farm in Cottage Grove, Minnesota. Pending the use of proceeds for such purpose, or if the acquisition of the SPPR logistics assets is not consummated for any reason, WNRL intends to use the net proceeds from this offering to repay all of the borrowings under its revolving credit facility and for general partnership purposes.

The common units are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such states. 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.

Barclays is acting as the lead book-running manager for the offering. A copy of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by sending a request to:

Barclays Capital Inc.c/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Telephone: (888) 603-5847Barclaysprospectus@broadridge.com

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