CrossAmerica Partners to launch 4.6M-unit offering

• CrossAmerica Partners (NYSE:CAPL) -6% AH after announcing a public offering of 4.6M common units, with an underwriters option to purchase up to an additional 690K units.
• CAPL says it plans to use the proceeds to reduce outstanding debt under its credit facility, and then intends to reborrow under its credit facility to fund future acquisitions.
• Earlier: CST Brands, CrossAmerica Partners in dropdown deals totaling $261M