Alon USA Partners prices IPO below expected range-market source

Mon Nov 19, 2012 7:25pm EST

Nov 19 (Reuters) - Alon USA Energy Inc's limited partnership unit Alon USA Partners LP priced its initial public offering of 10 million units at $16 each, according to a market source.

The price per unit is significantly below the partnership unit's expected price range of $19 to $21 apiece.

The Dallas-based company had filed with the U.S. Securities and Exchange Commission in August to raise up to $230 million in an initial public offering.

Alon USA Partners was formed in the same month to own and operate its parent's refining and petroleum marketing business in south central and southwestern regions of the United States.

Goldman Sachs & Co, Credit Suisse and Citigroup are acting as lead underwriters for the offering.

Alon USA Partners units are expected to begin trading on Tuesday on the New York Stock Exchange under the symbol "ALDW."


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.