SunCoke Energy Partners sets IPO price range at $19-$21/unit
Jan 8 (Reuters) - SunCoke Energy Partners LP said it expects to sell 13.5 million common units at between $19 and $21 apiece in its initial public offering.
At the midpoint of the range, the offering will raise $270 million. ()
The Illinois-based metallurgical coal producer plans to list its common unit on the New York Stock Exchange under the symbol "SXCP".
Barclays Capital, Merrill Lynch, Citigroup, Credit Suisse and J.P. Morgan are the lead underwriters to the offering.
SunCoke Energy Partners was formed to acquire interests in Haverhill Coke Co LLC and Middletown Coke Co LLC, the entities that own SunCoke Energy Partners' parent SunCoke Energy Inc's Haverhill and Middletown cokemaking facilities.
SunCoke Energy Partners plans to use a part of the proceeds for paying back the expenditure incurred by its parent to expand the two facilities, and for tax purposes.
Separately, CVR Refining LP, an associate of U.S. oil refiner CVR Energy Inc, priced its offering of 20 million common units at between $24 and $26 per unit in its offering.
The Texas-based company said its common units have been approved for listing on the New York Stock Exchange under the symbol "CVRR."
The downstream energy limited partnership listed Credit Suisse and Citigroup as lead underwriters to the offering. ()