CrossAmerica Partners LP Announces Public Offering of Common Units

June 16, 2015

HOUSTON, TX – Paul Hastings LLP, a leading global law firm, announced today that the firm represented CrossAmerica Partners LP (NYSE:  CAPL) (the “Partnership” or “CrossAmerica”) in a public offering of 4,600,000 common units representing limited partner interests in the Partnership (the “Offering”).  In connection with the Offering, the Partnership granted the underwriters a 30-day option to purchase up to an additional 690,000 common units.  The Partnership expects to receive net proceeds of approximately $138.6 million (or approximately $159.4 million if the underwriters exercise their option to purchase an additional 690,000 common units in full), after deducting underwriting discounts and commissions and estimated offering expenses.

The Partnership intends to use the net proceeds from the Offering, including any proceeds received from an exercise of the underwriters’ option to purchase additional common units, to reduce indebtedness outstanding under its credit facility.  The Partnership then intends to reborrow under its credit facility to fund future acquisitions.

The Paul Hastings team was led by MLP Capital Markets partner

, and also included MLP Capital Markets partner , MLP Tax partner  and MLP Capital Markets associates  and .

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.

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