Buckeye Partners LP (NYSE: BPL) priced a public offering of about 6.8 million limited partnership units that represent limited partnership interests, the company said Sept. 3.
The offer was upsized from 5.5 million units, and they were priced at $80 each, the company added.
Underwriters were given an option to purchase up to roughly 1 million additional units, the company said.
Net proceeds will support the purchase price of the transaction with Trafigura Corpus Christi Holdings Inc. and general corporate purposes, Buckeye said.
Barclays Plc (NYSE: BCS), Morgan Stanley (NYSE: MS), UBS Investment Bank, Wells Fargo Securities LLC, J.P. Morgan and RBC Capital Markets are joint book-running managers. Deutsche Bank Securities Inc. and Jefferies are co-managers, the company said.
Buckeye Partners LP, a domestic-focused midstream MLP, is based in Houston.
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