IPO Watch: Alon USA Tuesday, September 4, 4:13 PM ET
Alon USA Energy (NYSE:ALJ) announced today that its subsidiary, Alon USA Partners, LP, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of common units representing limited partner interests in Alon Partners. Application will be made to list the common units of Alon Partners on the New York Stock Exchange under the symbol "ALDW." Alon USA intends to use the net proceeds of the offering to reduce its outstanding indebtedness.
Alon Partners was formed by Alon USA to own, operate and grow its strategically located crude oil refinery in Big Spring, Texas, with total throughput capacity of approximately 70,000 barrels per day, and the related petroleum products marketing business.
Goldman, Sachs (NYSE:GS), Credit Suisse Securities (NYSE:CS), and Citigroup Global Markets (NYSE:C) are acting as joint book-running managers, and Jefferies & Company (JEF) is acting as lead managing underwriter.
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