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home / news releases / BKEPP - Blueknight Energy Partners: Crude Oil Business Sale Enhances Stability Of Preferred Units

BKEPP - Blueknight Energy Partners: Crude Oil Business Sale Enhances Stability Of Preferred Units

Blueknight Energy Partners L.P. Series A Preferred Units
  • Blueknight sold its crude oil businesses for $162 million in gross proceeds.
  • This reduces its debt by over 60% while reducing its EBITDA by a bit over 20%.
  • Blueknight's leverage goes from 4.0x to 2.0x.
  • Series A preferred units are in a stronger position with the substantial reduction in credit facility debt ahead of it in the capital structure.
  • Reduction in debt also may allow for a common unit distribution increase.

For further details see:

Blueknight Energy Partners: Crude Oil Business Sale Enhances Stability Of Preferred Units
Stock Information
Company Name: Blueknight Energy Partners L.P. Series A Preferred Units
Stock Symbol: BKEPP
Market: NASDAQ
Website: bkep.com
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