Western Refining Logistics launches IPO

Western Refining Logistics has launched its IPO of 12,500,000 shares. The stock is trading on the New York Stock Exchange under the ticker symbol “WNRL.” BofA Merrill Lynch and Barclays are underwriters. Goldman, Sachs & Co. and Wells Fargo Securities are serving as joint book-running managers for the IPO. Based in El Paso, Texas, WNRL is an owner and operator of terminals, storage tanks and pipelines.

PRESS RELEASE

EL PASO, Texas, Oct 02, 2013 (GLOBE NEWSWIRE via COMTEX) — Western Refining Logistics, LP (“WNRL”), a Delaware limited partnership and wholly owned subsidiary of Western Refining, Inc. (“Western”) WNR -1.08% announced today the launch of its initial public offering of 12,500,000 common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (“SEC”). WNRL will grant the underwriters a 30-day option to purchase from WNRL up to an additional 1,875,000 common units, at the initial public offering price. The common units being offered to the public have been approved for listing on the New York Stock Exchange and will be traded under the symbol “WNRL,” subject to official notice of issuance.
WNRL was formed by Western to own, operate, develop, and acquire terminals, storage tanks, pipelines, and other logistics assets. The common units being offered to the public represent a 27.4% limited partner interest in WNRL, or a 31.5% limited partner interest if the underwriters exercise their option to purchase additional common units in full. Western, through certain of its subsidiaries, will own the remaining limited partner interest and all of the incentive distribution rights in WNRL.
BofA Merrill Lynch and Barclays are acting as lead joint book-running managers and structuring agents for the offering. Goldman, Sachs & Co. and Wells Fargo Securities are acting as joint book-running managers for this offering, and Credit Suisse, Deutsche Bank Securities, UBS Investment Bank, Credit Agricole CIB and SunTrust Robinson Humphrey are acting as co-managers for this offering. This offering of common units will be made only by means of a prospectus. When available, a written prospectus that meets the requirements of Section 10 of the Securities Act of 1933 may be obtained from: