DENVER, Oct 13, 2011 (BUSINESS WIRE) --
MarkWest Energy Partners, L.P. (NYSE: MWE) announced today the closing
of its previously announced public offering of 5,750,000 common units at
$45.52 per unit, which includes 750,000 common units purchased pursuant
to the full exercise of the underwriters' over-allotment option.
MarkWest intends to use a portion of the approximately $251 million in
net proceeds from the offering, after deducting underwriting discounts,
commissions, and offering expenses, to repay borrowings under its
revolving credit facility. MarkWest intends to use the remaining net
proceeds to provide working capital for general partnership purposes.
Morgan Stanley, BofA Merrill Lynch, Citigroup, RBC Capital Markets and
Wells Fargo Securities acted as joint book-running managers for the
offering. A copy of the prospectus supplement and accompanying base
prospectus associated with this offering may be obtained from the
underwriters as follows:
Attn: Prospectus Dept.
180 Varick Street, 2nd
New York, New York 10014
Toll-Free: (866) 718-1649
Attn: Prospectus Department
4 World Financial
New York, New York 10080
Brooklyn Army Terminal
140 58th Street, 8th
Brooklyn, New York 11220
Toll-free number: (800)
Attn: Equity Syndicate
Three World Financial
200 Vesey Street, 8th Floor
New York, New York 10281
Wells Fargo Securities
375 Park Ave.
New York, New York 10152
number: (800) 326-5897
electronic copy of the prospectus supplement and the accompanying base
prospectus is available from the Securities and Exchange Commission's
(SEC) web site at http://www.sec.gov.
The common units are being offered pursuant to an effective shelf
registration statement that MarkWest previously filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation, or sale would
be unlawful prior to registration or qualification under the securities
laws of such state.
MarkWest Energy Partners, L.P. is a master limited partnership
engaged in the gathering, transportation, and processing of natural gas;
the transportation, fractionation, marketing, and storage of natural gas
liquids; and the gathering and transportation of crude oil. MarkWest has
extensive natural gas gathering, processing, and transmission operations
in the southwest, Gulf Coast, and northeast regions of the United
States, including the Marcellus Shale, and is the largest natural gas
processor in the Appalachian region.
This press release includes "forward-looking statements."All
statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements.Actual
results could vary significantly from those expressed or implied in such
statements and are subject to a number of risks and uncertainties.Although
MarkWest believes that the expectations reflected in the forward-looking
statements are reasonable, MarkWest can give no assurance that such
expectations will prove to be correct.The forward-looking
statements involve risks and uncertainties that affect operations,
financial performance, and other factors as discussed in filings with
the Securities and Exchange Commission.Among the factors that
could cause results to differ materially are those risks discussed in
the periodic reports filed with the SEC, including MarkWest's Annual
Report on Form 10-K for the year ended December 31, 2010, and our
Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.You
are urged to carefully review and consider the cautionary statements and
other disclosures made in those filings, specifically those under the
heading "Risk Factors."MarkWest does not undertake any duty to
update any forward-looking statement except as required by law.
SOURCE: MarkWest Energy Partners, L.P.
MarkWest Energy Partners, L.P.
Frank Semple, 866-858-0482
Chairman, President & CEO
Nancy Buese, 866-858-0482
Senior VP and CFO
Dan Campbell, 866-858-0482
VP of Finance & Treasurer