Breitburn Energy Partners LP (NASDAQ: BBEP) priced its public offering of 14 million common units at $18.64 each, the company said Oct. 7. The units represent limited partner interests, the company added.
Underwriters were given a monthlong option to purchase up to 2.1 million additional units to cover overallotments, Breitburn said.
Proceeds of about $251.6 million will reduce outstanding borrowings under the bank credit facility, the company said.
BofA Merrill Lynch, Barclays Plc (NYSE: BCS), Citigroup (NYSE: C), Morgan Stanley (NYSE: MS), RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities LLC, Credit Suisse (NYSE: CS) and J.P. Morgan are joint book-running managers, the company said.
Los Angeles-based Breitburn Energy Partners LP is an MLP developing and producing domestic oil and natural gas.
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