Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated October 27, 2016
Registration Statement No. 333-200443
PRICING TERM SHEET
$600,000,000 3.950% Senior Unsecured Notes due December 1, 2026
Issuer: |
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Buckeye Partners, L.P. |
Ratings*: |
|
Baa3 / BBB- / BBB- |
Trade Date: |
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October 27, 2016 |
Settlement Date: |
|
November 7, 2016 (T+7) |
Principal Amount: |
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$600,000,000 |
Maturity Date: |
|
December 1, 2026 |
Coupon: |
|
3.950% |
Interest Payment Dates: |
|
Semi-annually each June 1 and December 1, commencing June 1, 2017 |
Price to Public: |
|
99.644% of the principal amount |
Benchmark Treasury: |
|
1.500% due August 15, 2026 |
Benchmark Treasury Yield: |
|
1.843% |
Reoffer Spread to Benchmark |
|
+ 215 bps |
Yield to Maturity: |
|
3.993% |
Mandatory Redemption: |
|
If the issuers acquisition contemplated by the issuers definitive agreement with VIP Terminals Finance B.V. is not consummated, or the definitive agreement is terminated, in each case, prior to July 1, 2017, the issuer will be required to redeem all of the Notes then outstanding at 101% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the date of redemption. |
Optional Redemption: |
|
At any time prior to the date that is three months prior to the maturity date of the Notes, the Notes may be redeemed, in whole or from time to time in part, at the issuers option at an amount equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on such Notes (exclusive of interest accrued but unpaid to, but excluding, the redemption date) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the adjusted treasury rate plus 35 basis points, plus accrued and unpaid interest, if any, on the principal amount being redeemed to, but excluding, such redemption date. |
CUSIP: |
|
118230 AQ4 |
ISIN: |
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US118230AQ44 |
Joint Book-Running Managers: |
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Barclays Capital Inc. |
|
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SunTrust Robinson Humphrey, Inc. |
Co-Managers: |
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BB&T Capital Markets, a division of BB&T Securities, LLC |
* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision of withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at (888) 603-5847; J.P. Morgan Securities LLC collect at (212) 834-4533; SunTrust Robinson Humphrey, Inc. toll-free at (800) 685-4786; or Wells Fargo Securities, LLC toll-free at (800) 645-3751.