Magellan Midstream Sells $250 Million in Notes

Tulsa-based Magellan Midstream Partners, L.P. has announced that it has priced a $250 million public offering of its 30-year senior notes at 6.4 percent.

The net proceeds from the offering of approximately $246.2 million will be used primarily to prepay its pipeline senior notes, which were set to mature in Oct. 2007.

Wachovia Capital Markets, LLC and Citigroup Global Markets Inc. are acting as joint book-running managers for the debt offering, which is expected to close on April 19, 2007. In addition, J.P. Morgan Securities Inc., Lazard Capital Markets LLC, Lehman Brothers Inc. and SunTrust Capital Markets, Inc. are co-managing underwriters.



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