BreitBurn Announces Pricing Of 16.50 Mln. Common Units Offering

(RTTNews) - BreitBurn Energy Partners L.P. (BBEP) on Wednesday announced the pricing of its public offering of 16.5 million common units representing limited partner interests in the Partnership at a price to the public of $18.22 per unit.

he Partnership has granted to the underwriters a 30-day option to purchase up to an additional 2.475 million common units.

The offering is expected to close on November 18, 2013, subject to customary closing conditions.

The Partnership expects to receive net proceeds of about $289.7 million (or about $333.2 million if the underwriters exercise their option to purchase the additional common units) from the offering and intends to use the proceeds to repay debts.

Citigroup, Barclays, Morgan Stanley, Raymond James, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, BofA Merrill Lynch and J.P. Morgan will act as joint book-running managers of the offering.