Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated August 5, 2009
Relating to Preliminary Prospectus Supplement dated August 5, 2009
Registration No. 333-137166
MAGELLAN MIDSTREAM PARTNERS, L.P.
6.55% Senior Notes due 2019
| Issuer: |
Magellan Midstream Partners, L.P. | |||
| Ratings: |
Baa2 (Stable) / BBB (Stable)* | |||
| Note type: |
Senior Unsecured Notes | |||
| Pricing date: |
August 5, 2009 | |||
| Settlement date: |
August 12, 2009 (T+5) | |||
| Maturity date: |
July 15, 2019 | |||
| Principal amount: |
$250,000,000 (reopening of $300,000,000 6.55% Senior Notes due 2019) | |||
| Benchmark: |
U.S. Treasury 3.125% due May 15, 2019 | |||
| Benchmark yield: |
3.655% | |||
| Re-offer spread: |
+ 185 bps | |||
| Re-offer yield to maturity: |
5.505% | |||
| Coupon: |
6.55% | |||
| Public offering price: |
107.896% plus accrued interest from June 26, 2009 | |||
| Accrued interest: |
$2,092,361.11 from June 26, 2009 | |||
| Net proceeds: |
Approximately $269.9 million, after deducting the underwriting discount and estimated offering expenses | |||
| Optional redemption: |
Make whole call T + 50 bps | |||
| Interest payment dates: |
January 15 and July 15, beginning January 15, 2010 | |||
| CUSIP / ISIN: |
559080AE6 / US559080AE69 | |||
| Joint Book-Running Managers: |
J.P. Morgan Securities Inc. Banc of America Securities LLC SunTrust Robinson Humphrey, Inc. |
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| Co-Managers: |
Deutsche Bank Securities Inc. Mitsubishi UFJ Securities (USA), Inc. RBC Capital Markets Corporation UBS Securities LLC Wells Fargo Securities, LLC |
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| * | Note: A securities rating is not a recommendation to buy, sell or hold securities and is subject to revision or withdrawal at any time. |
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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 any 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 http://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P. Morgan Securities Inc. at (212) 834-4533, Banc of America Securities LLC toll-free at 1-800-294-1322 or SunTrust Robinson Humphrey, Inc. toll-free at (800) 685-4786.