The underwriters of the offering have a 30-day option to purchase up to an additional 6,000,000 common units from Shell Midstream Partners. The common units will begin trading on the New York Stock Exchange on October 29, 2014 under the ticker symbol “SHLX.” The offering is expected to close on or about November 3, 2014, subject to customary closing conditions.
At the closing of this offering, the public will own a 29.0 percent limited partner interest in Shell Midstream Partners, or a 33.4 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units.
Royal Dutch Shell, through certain of its subsidiaries, will own the remaining limited partner interest in Shell Midstream Partners, as well as its 2.0 percent general partner interest.
Barclays, Citigroup, Morgan Stanley and UBS Investment Bank are acting as book-running managers for the offering.Credit Suisse, Goldman Sachs, JP Morgan, Wells Fargo, RBC Capital Markets and Credit Agricole are acting as co-managers. The offering is being made only by means of a prospectus.