SunCoke Energy Partners, L.P. Prices Initial Public Offering Friday, January 18, 4:56 PM ET
SunCoke Energy Partners (NYSE:SXCP) announced that it has priced its IPO of 13,500,000 common units representing limited partner interests at $19.00 per common unit. The common units are expected to begin trading on the New York Stock Exchange under the ticker symbol "SXCP" on January 18, 2013. The offering is expected to close on January 24, 2013, subject to customary closing conditions. The Partnership has granted the underwriters a 30-day option to purchase up to an additional 2,025,000 common units to cover over-allotments, if any.
Upon conclusion of the offering, the public ownership will 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 and the remaining limited partner interest in the Partnership.
Barclays Capital, Merrill Lynch, Pierce, Fenner & Smith Incorporated, 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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