Buckeye Partners, L.P. (NYSE:BPL) Files An 8-K Other Events

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Buckeye Partners, L.P. (NYSE:BPL) Files An 8-K Other Events
Item 8.01.Other Events.

Notes Underwriting Agreement

On November9, 2017, Buckeye Partners, L.P. (“Buckeye”) and Buckeye GP LLC (the “General Partner”) entered into an underwriting agreement (the “Notes Underwriting Agreement”) with Barclays Capital Inc., PNC Capital Markets LLC and SunTrust Robinson Humphrey, Inc., as representatives of the several underwriters set forth in Schedule 1 thereto (collectively, the “Notes Underwriters”), that provided for the issuance and sale by Buckeye, and the purchase by the Notes Underwriters (the “Notes Offering”), of $400.0million aggregate principal amount of Buckeye’s 4.125% senior unsecured notes due 2027 (the “Notes”). The Notes Offering was registered under the Securities Act to a shelf registration statement on FormS-3 (File No.333-221438). The Notes Offering is scheduled to close on November20, 2017, subject to customary closing conditions.

The Notes Underwriting Agreement requires Buckeye to indemnify the Notes Underwriters and certain of their affiliates against certain liabilities or to contribute to payments the Notes Underwriters may be required to make because of such liabilities.

Buckeye intends to use the net proceeds from the Notes Offering in addition to a portion of the net proceeds from one or more potential future capital markets transactions (which may include an offering of subordinated notes)(i) to fund the redemption of all $300.0million aggregate principal amount of its outstanding 6.050% notes due January15, 2018 and (ii)to repay borrowings under its revolving credit facility.

The disclosure contained in this Item 8.01 does not purport to be a complete description of the Notes Underwriting Agreement and is qualified in its entirety by reference to the Notes Underwriting Agreement, which is filed as Exhibit1.1 hereto and is incorporated by reference into this Item 8.01.

Item 8.01. Financial Statements and Exhibits.


BUCKEYE PARTNERS, L.P. Exhibit
EX-1.1 2 d478106dex11.htm EX-1.1 EX-1.1 Exhibit 1.1 Execution Version $400,…
To view the full exhibit click here

About Buckeye Partners, L.P. (NYSE:BPL)

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. It is also an independent terminalling and storage operator in the United States in terms of capacity available for service. The Company’s terminal network comprises approximately 120 liquid petroleum products terminals with aggregate storage capacity of over 110 million barrels across its portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast and Gulf Coast regions of the United States and in the Caribbean. The Company’s marine terminal in The Bahamas, Bahamas Oil Refining Company International Limited (BORCO) provides an array of logistics and blending services for petroleum products.

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