WHIPPANY, N.J., April 9 /PRNewswire-FirstCall/ -- Suburban Propane Partners, L.P. (NYSE: SPH), a marketer of propane gas and related products and services nationwide, announced today that it has filed a registration statement for the sale of $50 million of Common Units Representing Limited Partner Interests, plus up to an additional $7.5 million of Common Units that may be issued pursuant to an option granted to the underwriter. The Company intends to use the net proceeds of the offering for general corporate purposes, which may include working capital, capital expenditures and debt reduction.
Goldman, Sachs & Co. will be the book-running manager for the offering. When available, copies of the preliminary prospectus relating to this offering may be obtained from the offices of Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, New York 10004, telephone number (212) 902-1171.
A registration statement relating to the Common Units of Suburban Propane Partners, L.P. has been filed with the Securities and Exchange Commission but has not yet become effective. These Common Units may not be sold nor may offers to buy them be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Units, nor shall there be any sale of the Common Units in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Suburban Propane Partners, L.P. is a publicly traded Master Limited Partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban has been in the customer service business since 1928. The Partnership serves approximately 750,000 residential, commercial, industrial and agricultural customers through more than 320 customer service centers in more than 40 states.
SOURCE Suburban Propane Partners, L.P. -0- 04/09/2003 /CONTACT: Company, Robert M. Plante, Vice President-Finance of Suburban Propane Partners, L.P., +1-973-503-9252/ /Company News On-Call: http://www.prnewswire.com/comp/112074.html/ (SPH) CO: Suburban Propane Partners, L.P. ST: New Jersey IN: OIL SU: TS -- NYW136 -- 6711 04/09/2003 17:28 EDT http://www.prnewswire.com