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 ...