Western Refining Logistics shops $300 million eight-year senior notes for pricing Feb. 2 week

By Paul Deckelman

New York, Feb. 2 – Western Refining Logistics, LP and its wholly owned subsidiary, WNRL Finance Corp., were heard by high-yield syndicate sources on Monday to be shopping a $300 million offering of senior notes due 2023 to potential investors.

The Rule 144A and Regulation S offering with registration rights is expected to price later this week.

The offering will be brought to market via joint global coordinators BofA Merrill Lynch and Wells Fargo Securities LLC and joint bookrunners Credit Agricole CIB, RBS Securities Inc. and Stifel Nicolaus & Co. Inc.

Barclays, Comerica Bank, Deutsche Bank Securities Inc., PNC Capital Markets LLC, Regions Bank and UBS Securities LLC will be the co-managers.

Western Refining Logistics, an El Paso, Texas-based pipeline company, intends to use a portion of the net proceeds from the private placement to repay the outstanding balance of its revolving credit facility, with the remaining amount to be used for general partnership purposes.

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