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Atlas Pipeline Partners Prices New Unit Issue

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Atlas Pipeline Partners (NYSE: APL  ) stands to reap hundreds of millions of dollars from an upcoming public share offering. The company has priced the issue of 10.3 million common units at $34 apiece. Additionally, the offering's underwriters have been granted a 30-day purchase option for up to an additional 1.545 million units.

Atlas Pipeline Partners said it plans to use the proceeds of the issue to help it finance its just-announced acquisition of TEAK Midstream. In advance of that, the company said it "may use some or all of the net proceeds for general partnership purposes, which may include repayment of outstanding borrowings under its revolving credit facility."

The joint book-running managers for the issue are Citigroup, Morgan Stanley, Bank of America's Merrill Lynch, JPMorgan Chase unit J.P. Morgan, and the Securities arms of Wells Fargo and Deutsche Bank.


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Eric Volkman
TMFVolkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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