HOUSTON, Aug. 11 /PRNewswire-FirstCall/ -- Buckeye Partners, L.P. (NYSE: BPL) ("Buckeye") announced today that it has priced a $275 million SEC Registered senior unsecured notes offering. The notes will have a 5.50% fixed rate coupon with an effective price to the public of 99.349% of face value to yield 5.586% to maturity. The notes will mature August 15, 2019. Buckeye expects the offering to close on August 18, 2009. Buckeye intends to use the net proceeds from the offering to reduce borrowings under its revolving credit facility and for general partnership purposes. Barclays Capital Inc., SunTrust Robinson Humphrey, Inc., BNP Paribas Securities Corp. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. An electronic copy of the prospectus and prospectus supplement is available from the Securities and Exchange Commission's website at http://www.sec.gov/. When available, a copy of the final prospectus supplement and related base prospectus associated with the senior unsecured notes offering may be obtained from: Barclays Capital Inc. c/o Broadridge Financial 1155 Long Island Avenue Edgewood, NY 11717 1-888-603-5847 SunTrust Robinson Humphrey, Inc. 303 Peachtree Street, 24th floor Atlanta, GA 30308 1-800-685-4786 BNP Paribas Securities Corp. 787 7th Avenue New York, NY 10019 1-800-854-5674 Wells Fargo Customer Information Center 1525 West W.T. Harris Blvd., NC0675 Charlotte, NC 28262 Attn: Syndicate Operations Email: 1-800-326-5897 This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, 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 jurisdiction. The offering may be made only by means of a prospectus supplement and accompanying base prospectus. Buckeye Partners, L.P. (http://www.buckeye.com/) is a publicly traded partnership that owns and operates one of the largest independent refined petroleum products pipeline systems in the United States in terms of volumes delivered, with approximately 5,400 miles of pipeline. Buckeye Partners, L.P. also owns 64 refined petroleum products terminals, operates and maintains approximately 2,400 miles of pipeline under agreements with major oil and chemical companies, owns a major natural gas storage facility in northern California, and markets refined petroleum products in certain of the geographic areas served by its pipeline and terminal operations. The general partner of Buckeye Partners, L.P. is owned by Buckeye GP Holdings L.P. (NYSE:BGH). This press release includes forward-looking statements that we believe to be reasonable as of today's date. Such statements are identified by use of the words "anticipates", "believes", "estimates", "expects", "intends", "plans", "predicts", "projects", "should", and similar expressions, and include Buckeye's estimated annual savings as a result of its reorganization. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and that may be beyond the control of Buckeye. Among them are (1) changes in laws or regulations to which we are subject, including those that permit the treatment of us as a partnership for federal income tax purposes, (2) terrorism, adverse weather conditions, environmental releases, and natural disasters, (3) changes in the marketplace for our products or services, such as increased competition, better energy efficiency, or general reductions in demand, (4) adverse regional or national economic conditions or adverse capital market conditions, (5) shutdowns or interruptions at the source points for the products we transport, store, or sell, (6) unanticipated capital expenditures in connection with the construction, repair, or replacement of our assets, (7) volatility in the price of refined petroleum products and the value of natural gas storage services, (8) nonpayment or nonperformance by our customers, and (9) our ability to realize the efficiencies expected to result from our recently announced reorganization. You should read our Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q for a more extensive list of factors that could affect results. We undertake no obligation to revise our forward-looking statements to reflect events or circumstances occurring after today's date. DATASOURCE: Buckeye Partners, L.P. CONTACT: Stephen R. Milbourne, Manager, Investor Relations of Buckeye Partners, L.P., +1-800-422-2825, Web Site: http://www.buckeye.com/

Copyright