Oil / Gas Refining / Marketing
Northern Tier Energy LP Announces Pricing of Public Offering of 12,000,000 Common Units
Northern Tier Energy LP announced that the pricing of an underwritten public offering of 12,000,000 common units representing limited partner interests in the Partnership (the Offering) held by Northern Tier Holdings LLC (the Selling Unitholder) at a price to the public of $26.28 per unit. The common units are being sold in the Offering pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission (the "Commission"). In addition, the Selling Unitholder has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 common units. The Partnership will not receive any proceeds from the sale of the common units in the Offering. The Offering is expected to close on May 6, 2013, subject to customary closing conditions. Barclays Capital Inc., BofA Merrill Lynch, Goldman, Sachs & Co., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, UBS Securities LLC, Deutsche Bank Securities Inc., and J.P. Morgan Securities LLC are acting as bookrunners for the Offering and Macquarie Capital (USA) Inc. and TPG Capital BD, LLC are acting as co-managers for the Offering.
Newocean Energy Holdings Ltd Announces Placing Of Existing Shares And Subscription Of New Shares
Newocean Energy Holdings Ltd announced that on April 17, 2013, the Company, Uniocean Investments Limited (the Vendor) and the Placing Agents entered into the Placing and Subscription Agreement, pursuant to which (i) the Vendor has conditionally agreed to sell, and the Placing Agents have conditionally agreed, each as agent for the Vendor, to procure on a best endeavours basis purchasers to purchase 166,500,000 Placing Shares at the Placing Price of HKD4.68 per Placing Share; and (ii) the Vendor has conditionally agreed to subscribe for such number of Subscription Shares as equals the number of Placing Shares sold by the Vendor under the Placing at the Subscription Price of HKD4.68 per Subscription Share. The net proceeds from the Subscription are estimated to be approximately HKD749.30 million and the net price per Subscription Share will be approximately HKD4.50. The Company intends to use the net proceeds from the Subscription of (i) approximately HKD388.13 million to upgrade and expand the handling capacity of its LPG facilities at the Group’s LPG terminal in Zhuhai, Guangdong Province, the PRC; (ii) approximately HKD62.10 million for funding of the Sinopec-NewOcean JV; (iii) approximately HKD62.10 million for the installation of LPG or LNG facilities in certain Sinopec gas stations; (iv) approximately HKD116.44 million to build two propylene tanks in Zhuhai Terminal to support the upgraded sea terminal in Zhuhai, Guangdong Province, the PRC.
Calumet Specialty Products Partners LP Prices Common Unit Offering
Calumet Specialty Products Partners LP announced that it priced an underwritten public offering of 5,250,000 common units at $37.50 per unit. Calumet also granted the underwriters a 30-day option to purchase up to 787,500 additional common units. This offering is expected to close on April 1, 2013, subject to customary closing conditions. Calumet intends to use the net proceeds from this common unit offering, including a proportionate capital contribution from its general partner, for general partnership purposes, including working capital, capital expenditures, acquisitions and potentially the redemption or repurchase of outstanding notes. Barclays Capital Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Deutsche Bank Securities Inc., Goldman, Sachs & Co. and MLV & Co. LLC are acting as co-managers for the offering.
Calumet Specialty Products Partners LP Announces Public Offering Of Common Units
Calumet Specialty Products Partners LP announced the commencement, subject to market conditions, of an underwritten public offering of 5,250,000 common units. Calumet also intends to grant the underwriters the option to purchase up to 787,500 additional common units. Calumet intends to use the net proceeds from this common unit offering, including a proportionate capital contribution from its general partner, for general partnership purposes, including working capital, capital expenditures, acquisitions and potentially the redemption or repurchase of outstanding notes. Barclays Capital Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Deutsche Bank Securities Inc., Goldman, Sachs & Co. and MLV & Co. LLC are acting as co-managers for the offering.
Logistics Energy Korea Co Ltd Announces Public Offering of Common Stock
Logistics Energy Korea Co Ltd announced that it has agreed to issue 502,500 common shares, raising KRW 986,975,000, through a public offering, for its operations. Its par value and offer price are KRW 500 and KRW 1,990, respectively. The listing date of the new shares is July 31, 2007, and the shares will be open for subscription from April 8, 2013 to April 9, 2013.
Phoenix Petroleum Philippines, Inc. Raises PHP 1.222 Billion In Additional Equity
Phoenix Petroleum Philippines, Inc. announced that it has raised PHP 1.222 billion in additional equity on March 11, 2013. In its disclosure, a Placing Agreement was entered on March 11, 2013, among the Company, Phoenix Petroleum Holdings, Inc. (PPHI) as the Selling Shareholder, and CLSA Limited as Placement Agent, for the offer and sale of PPHI's 130 million Company common shares at a price of PHP 9.40 per offer share.
Delek US Holdings Inc Announces Secondary Offering By Selling Stockholder And Repurchase Of Common Stock
Delek US Holdings Inc announced that the commencement of an underwritten secondary offering of 7,825,000 shares of its common stock offered by Delek Hungary Holding Limited Liability Company (the Selling Stockholder). The underwriters will also have a 30-day option to purchase up to an additional 1,173,750 shares of common stock from the Selling Stockholder. Delek US will not sell any shares or receive any proceeds from the offering. In addition, Delek US announced that its Board of Directors has authorized a $75 million common stock repurchase program. In connection with this program, Delek US has entered into a stock repurchase agreement with the Selling Stockholder pursuant to which it intends to repurchase 1,000,000 shares of its common stock from the Selling Stockholder concurrently with the closing of the offering. The remaining shares may be repurchased from time to time in open market or privately negotiated transactions, subject to market conditions and other factors. The authorization under the common stock repurchase program shall expire on December 31, 2013. Barclays Capital Inc., Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering.
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Analyst Research
| Report Title | Price |
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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