Martin Midstream Partners annunce $150m add-on

Martin Midstream Partners L.P. (Nasdaq:MMLP) have announced that it and its wholly-owned subsidiary, Martin Midstream Finance Corp., priced the offering of $150 million in aggregate principal amount of 7.250% senior unsecured notes due 2021 at an issue price of 103.000%, plus accrued interest from February 15, 2014.

The additional notes are being sold as an additional issue of our outstanding 7.250% senior notes due 2021, originally issued in an aggregate principal amount of $250 million on February 11, 2013 in a private offering and later exchanged into registered notes.

The offering of the additional notes is expected to close on April 1, 2014. The Partnership intends to use the net proceeds from this offering to repay borrowings under its revolving credit facility that it will borrow to pay the redemption price of approximately $182.8 million on its 8.875% notes due 2018 that have been called for redemption.

The additional notes have not been registered under the Securities Act of 1933, as amended or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

The Partnership plans to offer and sell the additional notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.

This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the additional notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the additional notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

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