Sprague Resources LP Completes Initial Public Offering

October 30, 2013 at 1:30 PM EDT

PORTSMOUTH, N.H., Oct. 30, 2013 /PRNewswire/ -- Sprague Resources LP (NYSE: SRLP) ("Sprague") today announced the completion of its initial public offering of 8,500,000 common units representing limited partner interests at $18.00 per common unit.

Net proceeds to Sprague from the offering were approximately $140.2 million, after deducting underwriting discounts, the structuring fee and estimated offering expenses. Sprague intends to use the net proceeds from this offering to reduce amounts outstanding under the working capital facility of its new credit agreement.

Barclays Capital Inc., J.P. Morgan Securities LLC, and BofA Merrill Lynch acted as joint book-running managers for the offering and BMO Capital Markets Corp., Raymond James & Associates, Inc., Janney Montgomery Scott LLC, BNP Paribas Securities Corp., Natixis Securities Americas LLC, RBS Securities Inc. and SG Americas Securities, LLC acted as co-managers for the offering.

The offering of these securities was made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, copies of which may be obtained from Barclays Capital Inc.

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
1-888-603-5847 or

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717

BofA Merrill Lynch
222 Broadway
New York, NY 10038
Attention: Prospectus Department

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Sprague Resources LP 

Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined petroleum products and natural gas. The company also provides storage and handling services for a broad range of materials.

Forward Looking Statements

This press release may include forward-looking statements.  These forward-looking statements involve risks and uncertainties.  When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Sprague's prospectus and SEC filings.  Sprague undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 

Investor Contacts:
Taylor Hudson
+1 603.430.5397


SOURCE Sprague Resources LP