TransMontaigne (TLP) Prices 1.75M Common Offering at $26.60/Unit

TransMontaigne Partners L.P. (NYSE: TLP) announced today that it has priced an offering to sell 1,750,000 common units representing limited partner interests at a public offering price of $26.60 per common unit. The Partnership has granted the underwriters a 30-day option to purchase up to 262,500 additional common units to cover over-allotments.

Morgan Stanley & Co. Incorporated and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering. The Partnership expects to use the net proceeds of approximately $45,315,000 (including the general partner's proportionate capital contribution, and after deducting underwriting discounts and commissions and estimated expenses, but excluding the over-allotment option) to reduce the indebtedness outstanding under the Partnership's senior secured credit facility, or for general business purposes, future acquisitions, capital expenditures and working capital. The settlement of this sale is expected to occur on January 15, 2010, subject to customary closing conditions.