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Western Refining Logistics LP Prices Initial Public Offering

Thursday, 10 Oct 2013 12:40am EDT 

Western Refining Logistics LP, a Delaware limited partnership and wholly owned subsidiary of Western Refining Inc, announced that it has priced an initial public offering of 13,750,000 common units representing limited partner interests in WNRL, at $22.00 per unit, pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). The common units are expected to begin trading on the New York Stock Exchange (NYSE) on October 10, 2013, under the ticker symbol "WNRL." WNRL has granted the underwriters a 30-day option to purchase from WNRL up to an additional 2,062,500 common units, at the initial public offering price. The offering is expected to close on or about October 16, 2013. Upon the conclusion of this offering, the public will own a 30.1% limited partner interest in WNRL, or a 34.7% limited partner interest if the underwriters exercise their option to purchase additional common units in full. Western, through certain of its subsidiaries, will own the remaining limited partner interest and all of the incentive distribution rights in WNRL. BofA Merrill Lynch and Barclays are acting as lead joint book-running managers and structuring agents for the offering. Goldman, Sachs & Co. and Wells Fargo Securities are acting as joint book-running managers for this offering, and Credit Suisse, Deutsche Bank Securities, UBS Investment Bank, Credit Agricole CIB and SunTrust Robinson Humphrey are acting as co-managers for this offering. 

Company Quote

0.88 +2.89%
19 Dec 2014