Kilgore, Texas-Martin Midstream Partners L.P. (MMLP) said March 26 that it and its wholly-owned subsidiary, Martin Midstream Finance Corp., completed the previously announced private placement of $200 million principal amount of 8.875 percent senior unsecured notes due April 1, 2018. The company received approximately $191.7 million in proceeds from the sale of the notes. MMLP used the net proceeds from the senior unsecured notes offering to repay borrowings under its existing credit facility, to terminate existing interest rate hedges, and to pay transaction fees, costs, and expenses.
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