HubsShell Midstream Partners, L.P. Announces $275 Million in Common Unit Sales
Release
Deal Description: September 15, 2017 - Shell Midstream Partners, L.P. (NYSE: SHLX) issued and sold 10,370,000 common units for a total purchase price of approximately $275 million. The common units were sold to funds managed by Tortoise Capital Advisors, L.L.C. in connection with a registered direct offering and sales of common units pursuant to Shell Midstream Partners’ at-the-market, or “ATM” equity distribution program, for an average weighted cost of $26.55 per common unit. Shell Midstream Partners expects to use the net proceeds to repay amounts outstanding under the partnership’s credit facilities and for general partnership purposes.
Baker Botts Lawyers/Office Involved:
Baker Botts Lawyers/Office Involved:
- Corporate: Josh Davidson (Partner; Houston); Mollie Duckworth (Partner; Austin); Sarah Dodson (Associate; Houston); Jennifer Gasser (Associate; Houston)
- Tax: Robert Phillpott (Partner; Houston); Jared Meier (Associate; Houston); Zak Morozov (Associate; Houston)
For more information, please see Shell Midstream Partners’ news release.
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