Martin Midstream Partners Announces Commencement of Public Offering of 2.3M Common Units
Martin Midstream Partners L.P. (Nasdaq: MMLP) announced today that it has commenced an underwritten public offering of 2,300,000 common units (plus up to an additional 345,000 common units to cover over-allotments, if any) under its existing shelf registration statement. The Partnership intends to use the net proceeds from the offering to repay outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes.
Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. RBC Capital Markets, Wells Fargo Securities and UBS Investment Bank are acting as joint book-running managers for the offering. In addition, Raymond James is a senior co-managing underwriter and Baird, Stifel Nicolaus Weisel and BB&T Capital Markets are co-managing underwriters.
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