Western Refining Logistics LP priced a public offering of about 3.7 million common units representing limited partner interests at $21.73 each, the company said May 16.
The total gross proceeds of about $81 million will repay outstanding revolving credit facility borrowings, and possibly will support general partnership purposes including working capital, capex or acquisitions from Western Refining Inc. or third parties, the company said.
Underwriters received a month-long option to purchase 562,500 additional units.
The offering is scheduled to close on May 20.
Barclays is the sole book-running manager.
Western Refining Logistics LP is based in El Paso, Texas.
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