Buckeye Partners, L.P. announced that it has commenced an offering of $1,000,000,000 aggregate principal amount of its senior notes consisting of senior notes due 2025 (the “2025 Notes”) and senior notes due 2028 (the “2028 Notes” and, together with the 2025 Notes, the “Notes”). Each series of Notes will be senior unsecured obligations of Buckeye and will not be guaranteed by any of Buckeye’s subsidiaries. The company intends to use the proceeds from the offering of the Notes (i) to pay the consideration in connection with a tender offer for its 4.875% Notes due 2021 and related consent solicitation, which has launched concurrently with this announcement, (ii) to repay all amounts drawn under its revolving credit facility, and (iii) the remaining balance for general corporate purposes.