KILGORE, Texas, March 14, 2014 (GLOBE NEWSWIRE) -- Martin Midstream Partners L.P. (Nasdaq:MMLP) (the "Partnership") announced today that it and its wholly-owned subsidiary, Martin Midstream Finance Corp., priced the offering of $150 million in aggregate principal amount of 7.250% senior unsecured notes due 2021 (the "additional notes") at an issue price of 103.000%, plus accrued interest from February 15, 2014. The additional notes are being sold as an additional issue of our outstanding 7.250% senior notes due 2021, originally issued in an aggregate principal amount of $250 million on February 11, 2013 in a private offering and later exchanged into registered notes (the "existing notes"). The offering of the additional notes is expected to close on April 1, 2014. The Partnership intends to use the net proceeds from this offering to repay borrowings under its revolving credit facility that it will borrow to pay the redemption price of approximately $182.8 million on its 8.875% notes due 2018 that have been called for redemption.
Martin Midstream Partners L.P. Announces Pricing Of $150 Million Of Add-On 7.250% Senior Notes Due 2021
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.