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20 October 2014 Shell Midstream Partners, L.P., a limited partnership formed by Royal Dutch Shell, announced today that it has launched its initial public offering of 37,500,000 common units, representing limited partner interests. The common units are expected to be listed on the New York Stock Exchange under the ticker symbol “SHLX.” The underwriters of the offering will have a 30-day option to purchase up to an additional 5,625,000 common units from Shell Midstream Partners The common units being offered represent a 27.2 percent limited partner interest in Shell Midstream Partners, or a 31.3 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units. Royal Dutch Shell, through certain of its subsidiaries, will own the remaining limited partner interest in Shell Midstream Partners, as well as its 2.0 percent general partner interest. Barclays, Citigroup, Morgan Stanley and UBS Investment Bank are acting as book-running managers for the offering. Credit Suisse, Goldman Sachs, JP Morgan, Wells Fargo, RBC Capital Markets and Credit Agricole are acting as co-managers. The offering is being made only by means of a prospectus. Once it becomes available, potential investors can obtain a prospectus that meets the requirements of Section 10 of the Securities Act of 1933 from: Barclays c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Phone: 1-888-603-5847 barclaysprospectus@broadridge.com Citigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717 Phone: 1-800- 831-9146 prospectusdept@citi.com Morgan Stanley Attention: Prospectus Department 180 Varick Street New York, New York 10014 Prospectus@morganstanley.com UBS Investment Bank Attn: Prospectus Dept. 299 Park Avenue New York, New York 10171 Phone: 1-888-827-7275 When available, to obtain a copy of the prospectus free of charge, visit the SEC’s website, www.sec.gov , and search under the registrant’s name, “Shell Midstream Partners.” A registration statement relating to the common units has been filed with the Securities and Exchange Commission but has not yet become effective. The common units may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sales of the 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 state or jurisdiction. About Shell Midstream Partners Shell Midstream Partners is a fee-based, growth-oriented master limited partnership recently formed by Royal Dutch Shell to own, operate, develop and acquire pipelines and other midstream assets. Shell Midstream Partners’ initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centres. Shell International BV press release |
