Western Refining Logistics (WNRL) Commences 5.25M Offering of Common Units
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Western Refining Logistics (WNRL) Prices 7.5M Common Units Offering for Proceeds of ~$167M
September 8, 2016 6:10 AM EDTWestern 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... More
Western Refining Logistics (WNRL) to Acquire Assets from Northern Tier Energy Subsidiary
September 7, 2016 4:05 PM EDTIn a joint statement today, Western Refining, Inc. (NYSE: WNR) and Western Refining Logistics, LP (NYSE: WNRL) announced that WNRL has entered into an agreement with WNR and St. Paul Park Refining Co. LLC (SPPR), a wholly-owned subsidiary of Northern Tier Energy LLC and indirect wholly-owned subsidiary of WNR, to acquire certain terminalling, storage and other logistics assets for total consideration of $210 million, comprised of $195 million in cash and $15 million of WNRL common units issued to SPPR. WNRL expects to fund the acquisition with a combination of proceeds from a... More