Magellan Midstream Partners, L.P. announced that it has priced $500 million of its 4.850% senior notes due 2049. The notes were priced at 99.371% of par to yield 4.890% to maturity. The partnership intends to use the net proceeds from this offering of approximately $491.7 million, after deducting underwriting discounts and estimated offering expenses, together with cash on hand, to redeem its 6.55% senior notes due 2019. Any remaining net proceeds will be used for general partnership purposes. The offering is expected to close on Jan. 18, 2019 and is subject to the satisfaction of customary closing conditions. J.P. Morgan Securities LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC, SMBC Nikko Securities America Inc. and U.S. Bancorp Investments Inc. are joint book-running managers for the debt offering, with Barclays Capital Inc., Citigroup Global Markets Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities, LLC acting as co-managers.