TransMontaigne Partners LP priced its offering of $300 million of senior unsecured notes due 2026 of the partnership and its subsidiary TLP Finance Corp. The notes will bear an interest rate of 6.125% per year and were priced at par.
The partnership plans to use proceeds from the offering, expected to settle Feb. 12, to repay revolver debt, for general partnership purposes, and to pay transaction fees and expenses, according to a Feb. 7 news release.
RBC Capital Markets, BofA Merrill Lynch, Citigroup, Credit Suisse, MUFG and Wells Fargo Securities are acting as joint book-running managers for the offering, while ABN AMRO, BMO Capital Markets, PNC Capital Markets LLC, US Bancorp and BBVA are acting as co-managers.
