Magellan Midstream may repay revolver with senior notes offerings

By Tali Rackner

Norfolk, Va., Feb. 25 – Magellan Midstream Partners, LP plans to repay any borrowings outstanding under its revolving credit facility with the proceeds from two new senior notes offerings, according to a 424B2 filing with the Securities and Exchange Commission.

Borrowings under the revolver, which matures Nov. 21, 2018, have been used for general partnership purposes, including capital expenditures and business acquisitions.

As of Feb. 20, the outstanding balance was zero.

The energy transportation, storage and distribution company is based in Tulsa, Okla.

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