Western Refining Logistics, LP Announces Launch of Initial Public Offering
EL PASO, Texas, Oct. 2, 2013 (GLOBE NEWSWIRE) -- Western Refining Logistics,
LP ("WNRL"), a Delaware limited partnership and wholly owned subsidiary of
Western Refining, Inc. ("Western") (NYSE:WNR) announced today the launch of
its initial public offering of 12,500,000 common units representing limited
partner interests pursuant to a registration statement on Form S-1 filed with
the U.S. Securities and Exchange Commission ("SEC"). WNRL will grant the
underwriters a 30-day option to purchase from WNRL up to an additional
1,875,000 common units, at the initial public offering price. The common units
being offered to the public have been approved for listing on the New York
Stock Exchange and will be traded under the symbol "WNRL," subject to official
notice of issuance.
WNRL was formed by Western to own, operate, develop, and acquire terminals,
storage tanks, pipelines, and other logistics assets. The common units being
offered to the public represent a 27.4% limited partner interest in WNRL, or a
31.5% limited partner interest if the underwriters exercise their option to
purchase additional common units in full. Western, through certain of its
subsidiaries, will own the remaining limited partner interest and all of the
incentive distribution rights in WNRL.
BofA Merrill Lynch and Barclays are acting as lead joint book-running managers
and structuring agents for the offering. Goldman, Sachs & Co. and Wells Fargo
Securities are acting as joint book-running managers for this offering, and
Credit Suisse, Deutsche Bank Securities, UBS Investment Bank, Credit Agricole
CIB and SunTrust Robinson Humphrey are acting as co-managers for this
offering.This offering of common units will be made only by means of a
prospectus. When available, a written prospectus that meets the requirements
of Section 10 of the Securities Act of 1933 may be obtained from:
BofA Merrill Lynch Barclays
222 Broadway, 7th Floor c/o Broadridge Financial Solutions
New York, NY 10038 1155 Long Island Avenue
Attn: Prospectus Department Edgewood, NY 11717
Email: email@example.com Email:
Toll free: (888) 603-5847
Goldman, Sachs & Co.
Attn: Prospectus Department Wells Fargo Securities
200 West Street Attn: Equity Syndicate Dept.
New York, NY 10282 375 Park Avenue
Email:firstname.lastname@example.org New York, NY 10152
Telephone:(866) 471-2526 Email: email@example.com
When available, you may also obtain a copy of the preliminary prospectus free
of charge by visiting the SEC's website at http://www.sec.gov under the
registrant's name, "Western Refining Logistics, LP".
A registration statement relating to these securities has been filed with the
SEC but has not yet become effective.These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective.This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to the registration or qualification under the
securities law of any such state or jurisdiction.
About Western Refining Logistics, LP
Headquartered in El Paso, Texas, WNRL is a fee-based, growth oriented Delaware
limited partnership recently formed by Western to own, operate, develop, and
acquire terminals, storage tanks, pipelines, and other logistics assets.
This news release contains "forward-looking statements" which are based on
current plans and expectations and involve a number of risks and uncertainties
that could cause actual results and events to vary materially, including but
not limited to the inability to complete the initial public offering. For a
full discussion of these risks and uncertainties, please refer to the "Risk
Factors" section of the Registration Statement on Form S-1 initially filed by
WNRL on July 25, 2013 and the information included in subsequent amendments
and other filings. These forward-looking statements are based on and include
our expectations as of the date hereof. Subsequent events and market
developments could cause our expectations to change. While we may elect to
update these forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so, even if new information becomes
available, except as may be required by applicable law.
CONTACT: Investor and Analyst Contact:
Jeffrey S. Beyersdorfer
Western Refining Logistics, LP logo
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