MarkWest Energy To Sell Common Units Under Equity Distribution Agreement

(RTTNews) - MarkWest Energy Partners L.P. (MWE) on Tuesday agreed to sell about 4.75 million common units pursuant to a terms agreement under its equity distribution agreement with Citigroup Global Markets Inc. (the "Sales Agent") for total proceeds of about $301.15 million.

In addition, 250,000 common units will be sold by M&R MWE Liberty LLC (the "Selling Unitholder").

MarkWest has granted the Sales Agent a 30-day option to purchase a maximum of 712,500 additional common units, and the Selling Unitholder has granted the Sales Agent a 30-day option to purchase a maximum of 37,500 additional common units.

MarkWest intends to use the net proceeds of the offering for general partnership purposes.

MarkWest will not receive any of the proceeds from the sale of common units by the Selling Unitholder.

The offering is expected to close on December 23, 2013.