Martin Midstream Partners (MMLP) Commences 3M Common Offering
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Martin Midstream Partners L.P. (Nasdaq: MMLP) has commenced an underwritten public offering of 3,000,000 common units (plus up to an additional 450,000 common units pursuant to an option granted to the underwriters) under its existing shelf registration statement. The Partnership intends to use the net proceeds from the offering (including any proceeds from the exercise of the underwriters' option to purchase additional common units) to repay outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. RBC Capital Markets, BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers for the offering. In addition, Baird, BB&T Capital Markets and Stephens are co-managing underwriters.
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