Oiltanking Partners, L.P. Prices Initial Public Offering
Will Begin Trading Under New York Stock Exchange Symbol "OILT"
HOUSTON, July 13, 2011 /PRNewswire/ -- Oiltanking Partners, L.P. (NYSE: OILT), a Delaware limited partnership, announced today that its initial public offering of ten million common units representing limited partner interests priced at $21.50 per unit. The common units will begin trading under the ticker symbol "OILT" on the New York Stock Exchange on Thursday, July 14, 2011. The underwriters have been granted a 30-day over-allotment option to purchase up to an additional 1.5 million common units. The offering is expected to close on Tuesday, July 19, 2011.
Upon conclusion of the offering, the public will own a 25.2% limited partner interest in Oiltanking Partners, or a 29.0% limited partner interest if the underwriters exercise their over-allotment option in full.
Citi, Barclays Capital, J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the offering. Raymond James, Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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 state or jurisdiction. Any offer of common units will be made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. A copy of the prospectus relating to the offering may be obtained on the SEC's web site at http://www.sec.gov under the registrant's name, "Oiltanking Partners, L.P." or from the offices listed below:
Citi Attn: Prospectus Department Brooklyn Army Terminal 140 58th Street, 8th Floor Brooklyn, New York 11220 Telephone: +1-800-831-9146 Email: [email protected] |
Barclays Capital c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: +1-888-603-5847 Email: [email protected] |
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J.P. Morgan c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: +1-866-803-9204 |
Morgan Stanley Attention: Prospectus Department 180 Varick Street, 2nd Floor New York, NY 10014 Telephone: +1-866-718-1649 Email: [email protected] |
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Oiltanking Partners is a master limited partnership engaged in independent storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas. We provide our services to a variety of customers, including major integrated oil companies, distributors, marketers and chemical and petrochemical companies. Our assets are located along the upper Gulf Coast of the United States.
This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, the Partnership's business plans may change as circumstances warrant and securities of Oiltanking Partners, L.P. may not ultimately be offered to the public because of general market conditions or other factors.
Contacts:
Ken Owen, Chief Financial Officer
[email protected]
281-457-7900
Jack Lascar / [email protected]
Lisa Elliott / [email protected]
DRG&L / 713-529-6600
SOURCE Oiltanking Partners, L.P.
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