SAN FRANCISCO (Thomson Financial) - MarkWest Energy Partners L.P. said late
Monday it is commencing a public offering of 5 million common units.
The Denver-based oil pipeline partnership plans to use the expected net
proceeds from the offering of $155.7 million to partially fund its 2008 organic
growth capital budget.
Markwest also said it plans to apply a portion of the net proceeds to pay
down borrowings under its revolving credit facility.
The company has granted the underwriters a 30-day option to purchase up to
750,000 additional common units to cover any over-allotments.
Lehman Brothers and Morgan Stanley will be joint book-running managers for
the offering.
Shares of MarkWest closed at $32.62.
Gabriel Madway
gm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|