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Shell Midstream Partners prices offering of common units

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World Pipelines,

Shell Midstream Partners L.P. has reported the pricing of an underwritten public offering of 10 500 000 common units representing limited partner interests, at a public offering price of US$33.25 per common unit. The total gross proceeds (before the underwriter’s discounts and commissions and offering expenses) are expected to be approximately US$350 million. Shell Midstream Partners has also granted the underwriter a 30-day option to purchase up to an additional 1 575 000 common units. The offering is to close on 23 May 2016, subject to certain closing conditions.

Shell Midstream Partners expects to use the net proceeds to fund the acquisition of additional equity interests in Zydeco Pipeline Company LLC, Bengal Pipeline Company LLC, and Colonial Pipeline Company from Shell Pipeline Company LP.

The common units are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, 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 states. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Edited from press release by

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