KILGORE, Texas, Feb. 3, 2011 (GLOBE NEWSWIRE) -- Martin Midstream Partners L.P. (Nasdaq:MMLP) (the "Partnership") announced today that it has commenced an underwritten public offering of 1,630,000 common units (plus up to an additional 244,500 common units to cover over-allotments, if any) under its existing shelf registration statement. The Partnership intends to use the net proceeds from the offering to repay outstanding indebtedness incurred under its revolving credit facility in connection with the acquisition of certain assets from L&L Holdings and other recent acquisitions. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. Wells Fargo Securities, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering. In addition, Baird is a co-managing underwriter.
The offering is being made by means of a prospectus and related prospectus supplement, copies of which may be obtained from the following addresses:
You may also obtain these documents for free when they are available by visiting EDGAR on the SEC website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering will be made only by means of a prospectus and related prospectus supplement, which are part of an effective registration statement.
About Martin Midstream Partners
The Partnership is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: terminalling and storage services for petroleum products and by-products; natural gas gathering and processing and NGL distribution services; sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and marine transportation services for petroleum products and by-products.
Statements about the Partnership's outlook and all other statements in this release other than historical facts are forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the Partnership's control, which could cause actual results to differ materially from such statements. While the Partnership believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in anticipating or predicting certain important factors. A discussion of these factors, including risks and uncertainties, is set forth in the Partnership's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. The Partnership disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Additional information concerning the Partnership is available on its website at www.martinmidstream.com.
CONTACT: Joe McCreery, Vice President - Finance & Head of Investor Relations Martin Midstream Partners L.P. Phone: (903) 988-6425 firstname.lastname@example.org