BreitBurn Energy (BBEP) Commences 8M Unit Offering
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BreitBurn Energy Partners L.P. (Nasdaq: BBEP) announced today that it has commenced a public offering, subject to market and other conditions, of 8,000,000 common units representing limited partner interests in the Partnership. The Partnership intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common units. The Partnership intends to use the net proceeds from the offering to repay indebtedness outstanding under its existing revolving credit facility.
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