Susser Petroleum Partners files for IPO
(Reuters) - Susser Petroleum Partners LP filed with U.S. regulators on Friday to raise up to $200 million in an initial public offering of common stock.
The limited partnership, formed by Susser Holdings Corporation, distributes motor fuels.
BofA Merrill Lynch and Barclays will underwrite the IPO, the Houston-based company said in a filing with the U.S. Securities and Exchange Commission.
The filing did not reveal how many common units the company plans to sell or their expected price.
The company intends to list its common stock under the symbol "SUSP" either on the New York Stock Exchange or the Nasdaq.
The proceeds from the offering will be used to repay certain capital expenditures to Susser Holdings Corporation, and to buy about $147 million of securities that will be used as collateral to secure a new term loan.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Sharanya Hrishikesh in Bangalore; Editing by Supriya Kurane)
(The fifth paragraph of this story has been corrected to clarify that the company will list either on the NYSE or the Nasdaq)