DENVER--(BUSINESS WIRE)--TransMontaigne Partners L.P. (NYSE:TLP) today announced that it has priced an underwritten public offering of 1,450,000 common units representing limited partner interests of the Partnership. The Partnership has granted the underwriters a 30-day option to purchase up to 217,500 additional common units. The common units were offered to the public at $43.32 per unit. In addition, TransMontaigne GP L.L.C., the general partner of the Partnership, is expected to make a proportionate cash contribution to maintain its 2.0% general partner interest in the Partnership. The offering is expected to close on July 24, 2013, subject to customary closing conditions.
The Partnership intends to use a portion of the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters’ option to purchase additional common units, to repay indebtedness outstanding under its senior secured credit facility and to fund a portion of its proportionate share of the construction cost of Battleground Oil Specialty Terminal Company LLC, its joint venture with Kinder Morgan Energy Partners, L.P.
Morgan Stanley, BofA Merrill Lynch, Citigroup and Wells Fargo Securities are acting as joint book-running managers for the offering.
When available, copies of the prospectus supplement, 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:
| Morgan Stanley |
| 180 Varick Street, 2nd Floor |
| New York, NY 10014 |
| Attention: Prospectus Department |
| Phone: (866) 718-1649 |
|
Email: prospectus@morganstanley.com |
| BofA Merrill Lynch |
| 222 Broadway |
| New York, NY 10038 |
| Attention: Prospectus Department |
| Citigroup |
| c/o Broadridge Financial Solutions |
| 1155 Long Island Avenue |
| Edgewood, NY 11717 |
| Phone: (800) 831-9146 |
|
Email: batprospectsdept@citi.com |
| Wells Fargo Securities |
| 375 Park Avenue |
| New York, NY 10152 |
| Attention: Equity Syndicate Department |
| Phone: (800) 326-5897 |
The common units 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 primarily in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the Southeast. 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; heavy refined products include residual fuel oils and asphalt. We do not purchase or market products that we handle or transport. TransMontaigne Partners has no officers or employees and all of our management and operational activities are provided by officers and employees of TransMontaigne Services Inc. TransMontaigne Services Inc. is an indirect wholly owned subsidiary of TransMontaigne Inc. TransMontaigne Inc. is an indirect wholly owned subsidiary of Morgan Stanley. We are controlled by our general partner, TransMontaigne GP L.L.C., which is an indirect wholly owned subsidiary of TransMontaigne Inc. News and additional information about TransMontaigne Partners L.P. is available on our website: www.transmontaignepartners.com.
Forward-Looking Statements
This press release, the presentation materials referenced herein and the conference presentation by representatives of TransMontaigne Partners L.P. include statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Although the company 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. Important factors that could cause actual results to differ materially from the company’s expectations and may adversely affect its business and results of operations are disclosed in “Item 1A. Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission on March 12, 2013.
