Western Refining Logistics Launches IPO - Quick Facts

(RTTNews) - Western Refining Logistics, LP, a subsidiary of Western Refining Inc. (WNR), announced the launch of its initial public offering of 12.5 million common units representing limited partner interests.

The company will grant the underwriters a 30-day option to purchase from WNRL up to an additional 1.875 million common units, at the initial public offering price. The common units being offered to the public will trade under the symbol, WNRL.

The company said the common units being offered to the public represent a 27.4% limited partner interest in Western Refining Logistics, or a 31.5% limited partner interest if the underwriters exercise their option to purchase additional common units in full. Western Refining Inc., through certain of its subsidiaries, will own the remaining limited partner interest and all of the incentive distribution rights in Western Refining Logistics.