Breitburn begins public offering of common units

Breitburn Energy Partners LP

Breitburn Energy Partners LP (NASDAQ:BBEP) has begun a public offering, subject to market and other conditions, of 14,000,000 common units representing limited partner interests in Breitburn.

Breitburn intends to grant the underwriters a 30-day option to purchase up to an additional 2,100,000 common units to cover over-allotments. The company intends to use the net proceeds from the offering to reduce outstanding borrowings under its bank credit facility.

BofA Merrill Lynch, Barclays, Citigroup, Morgan Stanley, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, Credit Suisse, and JP Morgan will act as joint book-running managers of the common units offering.

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