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

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Western Refining Logistics (WNRL) Commences 5.25M Offering of Common Units

September 7, 2016 4:16 PM EDT

Western Refining Logistics, LP (NYSE: WNRL) today announced the commencement of an underwritten public offering of 5,250,000 common units representing limited partner interests. In connection with the offering, WNRL intends to grant the underwriter a 30-day option to purchase up to an additional 787,500 common units.

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 WNRLs previously announced acquisition (the SPPR Dropdown) of certain terminalling, storage and other... More

Western Refining Logistics (WNRL) to Acquire Assets from Northern Tier Energy Subsidiary

September 7, 2016 4:05 PM EDT

In 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