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Alon USA Partners, LP Announces $450M Offering Of Senior Notes Due 2022

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Alon USA Partners, LP (NYSE: ALDW) ("Alon Partners") and its wholly owned subsidiary Alon USA Partners Finance Co. ("Alon Finance") today announced that they intend to offer, subject to market conditions, $450 million aggregate principal amount of senior notes due 2022 in an offering to eligible purchasers (the "Offering"). The notes initially will be guaranteed on a senior unsecured basis by all of Alon Partners' current subsidiaries (other than Alon Finance) and by certain future subsidiaries.

Alon Partners intends to use the net proceeds from the Offering, together with an issuance of common units representing limited partner interests in Alon Partners to a subsidiary of Alon USA Energy, Inc. (NYSE: ALJ) ("Alon Energy"), to fund the cash portion of its separately announced pending acquisition of Alon Energy's Krotz Springs refinery, to repay in full and terminate its term loan facility and for general partnership purposes, including repayment of borrowings under its revolving credit facility, if any.

The notes to be offered have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws or blue sky laws and foreign securities laws.

The notes and the related guarantees will be offered only to qualified institutional buyers under Rule 144A under the Securities Act and to persons outside the United States under Regulation S under the Securities Act.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

 

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