Business News • MarketWire • Buckeye Partners, L.P. to Offer Limited Partnership Units |
Buckeye Partners, L.P. to Offer Limited Partnership Units |
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Buckeye Partners, L.P. to Offer Limited Partnership Units
HOUSTON, TX--(Marketwire - April 13, 2011) - Buckeye Partners, L.P. ("Buckeye") (NYSE: BPL) announced today that it has commenced a public offering of 4,800,000 limited partnership units representing limited partner interests ("LP Units") pursuant to an effective shelf registration statement. Buckeye expects to grant the underwriters an option to purchase up to 720,000 additional LP Units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility.
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