News Column

Macquarie Infrastructure Company Announces Pricing of Public Offerings of LLC Interests and Convertible Senior Notes

July 26, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- Macquarie Infrastructure Company LLC (the "Company" or "MIC") (NYSE:MIC) announced the pricing of an underwritten public offering of 10,000,000 LLC interests, or shares, at a price to the public of $66.50 per share.

MIC has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares. The offering is being made under the Company's existing shelf registration statement filed with the Securities and Exchange Commission on April 8, 2013, as amended, and is expected to close on July 15, 2014, subject to customary closing conditions.

The Company also announced the pricing of $305.0 million of convertible senior notes due July 2019 at a conversion premium of 27.5% over the public offering price of the shares of $66.50. The convertible senior notes will yield 2.875% and will be convertible solely into shares of MIC. The size of the offering has been increased from $250.0 million to $305.0 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional $45.0 million of convertible senior notes.

The Company expects to use the net proceeds from each of the offerings, together with the issuance of $115.0 million of shares to the sellers of International-Matex Tank Terminals, or IMTT, to acquire the remainder of IMTT that it does not currently own. The balance of any net proceeds from the offerings will be used for general corporate purposes. MIC acquired its existing 50% stake in IMTT in May of 2006.

Barclays, J.P. Morgan, Macquarie Capital, RBC Capital, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as joint book-running managers for the offerings.

This press release is neither an offer to sell nor a solicitation of an offer to buy LLC interests or convertible senior notes, nor shall there be any sale of LLC interests or convertible senior notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of any such state or jurisdiction.

Each of the offerings will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-888-603-5847 or by email at, from J.P. Morgan, via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, or by telephone at 1-866-803-9204, from Macquarie Capital, Attention: Prospectus Department, 125 West 55th Street, 22nd Floor, New York, NY 10019, or by telephone at 1-888-268-3937, or by email at, from RBC Capital Markets, 3 World Financial Center, 200 Vesey Street, 8th Floor, New York, New York 10281, Attention: Equity Syndicate, or by telephone at 1-877-822-4089, or by email at , from SunTrust Robinson Humphrey, 3333 Peachtree Rd., NE, Atlanta, GA 30326, or by telephone at 1-404-926-5744, or by email at, or from Wells Fargo Securities, 375 Park Avenue, New York, NY 10152, Attention: Equity Syndicate Dept., or by telephone at 1-800-326-5897, or by email at About Macquarie Infrastructure Company Macquarie Infrastructure Company owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a gas processing and distribution business, Hawaii Gas, several entities comprising a Contracted Power and Energy segment, and a 50% interest in a bulk liquid terminals business, International-Matex Tank Terminals. MIC also owns and operates an airport services business, Atlantic Aviation. The Company is managed by a wholly-owned subsidiary of the Macquarie Group.

Keywords for this news article include: Banking and Finance, Macquarie Infrastructure Company LLC.

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Source: Investment Weekly News

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