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Magellan Midstream Prices Senior Notes

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February 25, 2014

Magellan Midstream Partners LP (NYSE: MMP) priced $250 million of its 5.15% senior notes due 2043, the company said Feb. 25.

The notes, which are additions to a series of notes issued Oct. 10, 2013, were priced at 103.085% of par, to yield 4.95% to maturity, the company added.

Net proceeds after underwriting discounts—about $255 million—will repay borrowings under revolving credit and also be used for general purposes, Magellan Midstream said. The company may invest in interest-bearing securities or accounts, pending the proceeds’ application, the company noted.

The offer is ...

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