BUCKEYE PARTNERS, L.P. TO OFFER LIMITED PARTNERSHIP UNITS
Breinigsville, PA – March 25, 2009 . . . Buckeye Partners, L.P. (NYSE: BPL) (“Buckeye”) today announced that it has commenced a public offering of 2,350,000 limited partnership units pursuant to an effective shelf registration statement. The underwriters have been granted an option to purchase up to 352,500 additional limited partnership units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility. Barclays Capital, Citi, J.P. Morgan, and Wachovia Securities are acting as joint book-running managers of the limited partnership unit offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these 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 jurisdiction. The offering may be made only by means of a prospectus supplement and accompanying base prospectus.
Copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained from: Barclays Capital, c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York 11717, by email at Barclaysprospectus@broadridge.com, or by telephone at (888) 603-5847; Citi, Brooklyn Army Terminal, Attention: Prospectus Delivery Dept., 140 58th Street, Brooklyn, New York 11220, or by telephone at (800) 831-9146; J.P. Morgan, Attention: Prospectus Library, 4
News Release NYSE: BPL
Buckeye Partners, L.P. Five TEK Park 9999 Hamilton Blvd. Breinigsville, PA 18031
Buckeye Partners – LP Unit Offering Page 2
Chase Metrotech Center, CS Level, Brooklyn, New York 11245, by fax at (718) 242-8003, or by telephone at (718) 242-8002; or Wachovia Securities, Attention: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, by email at Equity.syndicate@wachovia.com, or by telephone at (800) 326-5897. You may also obtain these documents for free by visiting IDEA on the SEC website at www.sec.gov. Buckeye Partners, L.P. is a publicly traded partnership that owns and operates one of the largest independent refined petroleum products pipeline systems in the United States in terms of volumes delivered, with approximately 5,400 miles of pipeline. Buckeye Partners, L.P. also owns 64 refined petroleum products terminals, operates and maintains approximately 2,400 miles of pipeline under agreements with major oil and chemical companies, owns a major natural gas storage facility in northern California, and markets refined petroleum products in certain of the geographic areas served by its pipeline and terminal operations. The general partner of Buckeye Partners, L.P. is owned by Buckeye GP Holdings L.P. (NYSE: BGH). * * * * * This press release includes forward-looking statements that we believe to be reasonable as of today’s date. Such statements are identified by use of the words “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “predicts”, “projects”, “should”, and similar expressions. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and that may be beyond the control of the Partnership. Among them are (1) changes in laws or regulations to which we are subject, including those that permit the treatment of us as a partnership for federal income tax purposes, (2) terrorism, adverse weather conditions, environmental releases, and natural disasters, (3) changes in the marketplace for our products or services, such as increased competition, better energy efficiency, or general reductions in demand, (4) adverse regional or national economic conditions or adverse capital market conditions, (5) shutdowns or interruptions at the source points for the products we transport, store, or sell, (6) unanticipated capital expenditures in connection with the construction, repair, or replacement of our assets, (7) volatility in the price of refined petroleum products and the value of natural gas storage services, and (8) nonpayment or nonperformance by our customers. You should read our Annual Report on Form 10-K for a more extensive list of factors that could affect results. We undertake no obligation to revise our forward-looking statements to reflect events or circumstances occurring after today’s date.
Buckeye Partners, L.P-Buckeye Partners, L.P-03/25/2009
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