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Published on 5/18/2007 in the Prospect News Bank Loan Daily.

TransMontaigne to repay bank debt with common units proceeds

By Sara Rosenberg

New York, May 18 - TransMontaigne Partners LP plans to reduce debt under its senior secured credit facility using proceeds from an offering of 4.8 million common units at a price of $36.80 per unit, according to a company news release.

Net proceeds from the offering are $167.4 million.

In addition to repaying bank debt, proceeds will be used for general business purposes, future acquisitions, capital expenditures and working capital.

TransMontaigne is a Denver-based refined petroleum products terminaling and pipeline company.


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