SunCoke Energy Announces Launch of SunCoke Energy Partners IPO Tuesday, January 8, 3:10 PM ET
SunCoke Energy (NYSE:SXC) announced today that its wholly-owned subsidiary, SunCoke Energy Partners, has launched its IPO of 13,500,000 common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). The Partnership will grant the underwriters a 30-day option to purchase up to an additional 2,025,000 common units at the IPO price, less underwriting discounts. The common units will be listed on the New York Stock Exchange under the ticker symbol "SXCP".
The common units being offered represent a 43.0 percent limited partner interest in the Partnership, or a 49.4 percent limited partner interest if the underwriters exercise their option to purchase additional common units in full. SunCoke Energy, Inc., through certain of its subsidiaries, will hold a 2.0 percent general partner interest, all of the Partnership's incentive distribution rights, and the remaining limited partner interest in the Partnership.
Barclays Capital, Merrill Lynch, Pierce, Fenner & Smith, Citigroup Global Markets, Credit Suisse Securities and J.P. Morgan Securities are acting as joint book-running managers for the offering. Evercore Group, Goldman Sachs, RBC Capital Markets, and UBS Securities are acting as co-managers for the offering.
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