Market Overview

Alon USA Partners, LP Prices IPO at $16.00/Unit


Alon USA Energy (NYSE: ALJ) announced today that its subsidiary, Alon USA Partners, LP, a Delaware limited partnership has priced its initial public offering of 10,000,000 common units representing limited partner interests in Alon Partners at $16.00 per common unit. The common units are expected to begin trading on the New York Stock Exchange under the symbol "ALDW" on November 20, 2012. The offering is expected to close on November 26, 2012, subject to customary closing conditions.  Alon USA intends to use the net proceeds of the offering to reduce its $450 million term loan that closed on November 13, 2012.  Upon conclusion of the offering, Alon USA will own an 84.0% limited partner interest in Alon Partners, or an 81.6% limited partner interest if the underwriters exercise their option to purchase an additional 1,500,000 common units in full. Alon USA will own 100% of the general partner interest in Alon Partners. 

Alon Partners was formed by Alon USA to own, operate and grow its strategically located crude oil refinery in Big Spring, Texas, with total throughput capacity of approximately 70,000 barrels per day, and the related petroleum products marketing

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Posted-In: News Guidance Management Stock Split


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