The Partnership intends to use the net proceeds to reduce indebtedness and for general partnership purposes.
Lehigh Gas Partners LP announced the commencement of a public offering of 3,600,000 common units representing limited partner interests in the Partnership.
In connection with the offering, the Partnership expects to grant the underwriters a 30-day option to purchase up to an additional 540,000 common units.
The Partnership intends to use the net proceeds from this offering to reduce indebtedness outstanding under its credit facility and for general partnership purposes.
The common units will be offered and sold pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.
Barclays Capital Inc., BofA Merrill Lynch, Raymond James & Associates, Inc., Wells Fargo Securities, LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering, and Robert W. Baird & Co. Incorporated and Janney Montgomery Scott LLC are acting as co-managers for the offering.