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Magellan Midstream Prices $300 Million, 30-Year Senior Notes Offering



    Magellan Midstream Prices $300 Million, 30-Year Senior Notes Offering

PR Newswire

TULSA, Okla., Oct. 3, 2013

TULSA, Okla., Oct. 3, 2013 /PRNewswire/ -- Magellan Midstream Partners, L.P.
(NYSE: MMP) announced today that it has priced a $300 million public offering
of 5.15% senior notes due Oct. 15, 2043 at a price of approximately 99.56% of
par to yield 5.179% to maturity. The partnership intends to use the net
proceeds from this offering of approximately $295.6 million, after
underwriting discounts and estimated offering expenses, to repay borrowings
outstanding under its revolving credit facility and for general partnership
purposes, which may include capital expenditures. Pending application of the
net proceeds, the partnership may make investments in interest bearing
securities or accounts.

The offering is expected to close on Oct. 10, 2013 and is subject to customary
closing conditions. J.P. Morgan Securities LLC, Citigroup Global Markets Inc.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets,
LLC are joint book-running managers for the debt offering, with Barclays
Capital Inc., Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC,
SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., UBS
Securities LLC and Wells Fargo Securities, LLC acting as co-managers.

The offering may be made only by means of a prospectus supplement and
accompanying base prospectus. Copies of these documents may be obtained from:

  o J.P. Morgan Securities LLC, 383 Madison Avenue, 3^rd floor, Attention:
    Investment Grade Syndicate Desk, New York, NY 10179, phone: (212)
    834-4533;
  o Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155
    Long Island Avenue, Edgewood, NY 11717, phone: (800) 831-9146;
  o Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11^th
    floor, Attention: Prospectus Department, New York, NY 10038, phone: (800)
    294-1322; or
  o RBC Capital Markets, LLC, 200 Vesey Street, Three World Financial Center,
    Attention: Transaction Management, New York, NY 10281, phone: (866)
    375-6829.

Electronic copies of the prospectus supplement and accompanying base
prospectus are also available from the Securities and Exchange Commission's
website at www.sec.gov.

A registration statement relating to these securities became effective upon
filing with the Securities and Exchange Commission. This news release does not
constitute an offer to sell or a solicitation of an offer to buy the
securities described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.

About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership
that primarily transports, stores and distributes refined petroleum products
and crude oil. The partnership owns the longest refined petroleum products
pipeline system in the country, with access to more than 40% of the nation's
refining capacity, and can store over 80 million barrels of petroleum products
such as gasoline, diesel fuel and crude oil.

Portions of this document may constitute forward-looking statements as defined
by federal law. Although management believes any such statements are based on
reasonable assumptions, there is no assurance that actual outcomes will not be
materially different. Additional information about issues that could lead to
material changes in performance is contained in the partnership's filings with
the Securities and Exchange Commission.

Contact: Paula Farrell
         (918) 574-7650
         paula.farrell@magellanlp.com

SOURCE Magellan Midstream Partners, L.P.

Website: http://www.magellanlp.com
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