Oiltanking Partners Launches Initial Public Offering
HOUSTON, July 5, 2011 /PRNewswire/ -- Oiltanking Partners, L.P., a Delaware limited partnership ("Oiltanking Partners"), announced today that it has commenced an initial public offering of 10,000,000 common units representing limited partner interests in Oiltanking Partners pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission. The underwriters will be granted a 30-day over-allotment option to purchase up to an additional 1,500,000 common units. The common units will be listed on the New York Stock Exchange and traded under the symbol "OILT".
Oiltanking Partners was formed by Oiltanking Holding Americas, Inc. to engage in the terminaling, storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas. The common units being offered to the public represent 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.
This offering of common units will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of:
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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A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC's web site at http://www.sec.gov under the registrant's name, "Oiltanking Partners, L.P." 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.
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.
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.
Investor contacts |
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Oiltanking Partners, L.P. |
Dennard Rupp Gray & Lascar, LLC |
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Kenneth F. Owen |
Jack Lascar, Partner |
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Chief Financial Officer |
Lisa Elliott, Senior Vice President |
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Phone: +1-281-457-7900 |
Phone: +1-713-529-6600 |
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SOURCE Oiltanking Partners, L.P.
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