SunCoke Energy, Inc. Announces Launch of SunCoke Energy Partners, L.P. Initial Public Offering
SunCoke Energy, Inc. (NYSE:SXC) (SunCoke) announced today that its
wholly-owned subsidiary, SunCoke Energy Partners, L.P., a Delaware
limited partnership (the Partnership) has launched its initial public
offering (IPO) of 13,500,000 common units representing limited partner
interests pursuant to a registration statement on Form S-1 filed with
the U.S. Securities and Exchange Commission (SEC). The Partnership will
grant the underwriters a 30-day option to purchase up to an additional
2,025,000 common units at the IPO price, less underwriting discounts.
The common units will be listed on the New York Stock Exchange under the
ticker symbol “SXCP”.
The common units being offered represent a 43.0 percent limited partner
interest in the Partnership, or a 49.4 percent limited partner interest
if the underwriters exercise their option to purchase additional common
units in full. SunCoke Energy, Inc., through certain of its
subsidiaries, will hold a 2.0 percent general partner interest, all of
the Partnership’s incentive distribution rights, and the remaining
limited partner interest in the Partnership.
Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities
(USA) LLC and J.P. Morgan Securities LLC are acting as joint
book-running managers for the offering. Evercore Group L.L.C., Goldman,
Sachs & Co., RBC Capital Markets, LLC and UBS Securities are acting as
co-managers for the offering.
The offering of these securities will be made only by means of a
prospectus. When available, a written prospectus that meets the
requirements of Section 10 of the Securities Act of 1933 may be obtained
from:
Barclays
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BofA Merrill Lynch
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c/o Broadridge Financial Solutions
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222 Broadway, 7thFloor
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1155 Long Island Avenue
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New York, NY 10038
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Edgewood, NY 11717
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Attention: Prospectus Department
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Telephone: 1-888-603-5847
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dg.prospectus_requests@baml.com
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barclaysprospectus@broadridge.com
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Citigroup
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Credit Suisse
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Brooklyn Army Terminal Financial
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Attention: Prospectus Department
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Attention: Prospectus Dept.
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One Madison Avenue
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140 58th Street, 8th Floor, Brooklyn, NY 11220
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New York, NY 10010
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Telephone: 1-800-831-9146
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Telephone: 1-800-221-1037
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batprospectusdept@citi.com
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J.P. Morgan
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via Broadridge Financial Solutions
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1155 Long Island Avenue Edgewood, NY 11717
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Telephone: 1-866-803-9204
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The registration statement may be obtained free of charge at the SEC's
website at www.sec.gov
under the registrant's name, "SunCoke Energy Partners, L.P."
IMPORTANT INFORMATION
A registration statement relating to these securities has been filed
with the SEC but has not yet been declared effective. These securities
may not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
FORWARD LOOKING STATEMENTS
Some of the statements included in this press release constitute
“forward looking statements” (as defined in Section 27A of the
Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended). Such forward-looking statements are
based on management’s beliefs and assumptions and on information
currently available. You should not put undue reliance on any
forward-looking statements. Forward-looking statements include all
statements that are not historical facts and may be identified by the
use of forward looking terminology such as the words “believe,”
“expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,”
“predict,” “potential,” “continue,” “may,” “will,” “should” or the
negative of these terms or similar expressions. Forward-looking
statements involve risks, uncertainties and assumptions.
Risks and uncertainties that could cause actual results to differ
materially from those expressed in forward-looking statements include
economic, business, competitive and/or regulatory factors affecting the
Company’s business, as well as uncertainties related to the outcomes of
pending or future litigation, legislation, or regulatory actions. No
assurance can be given as to the value of the common units of the
planned MLP, the price at which they may trade or whether a liquid
market may develop for such units. Unpredictable or unknown factors not
discussed in this release also could have material adverse effects on
forward-looking statements.
In accordance with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, SunCoke Energy has included in its
filings with the Securities and Exchange Commission cautionary language
identifying important factors (but not necessarily all the important
factors) that could cause actual results to differ materially from those
expressed in any forward-looking statement made by SunCoke Energy. For
more information concerning these factors, see SunCoke
Energy’s Securities and Exchange Commission filings. All forward-looking
statements included in this press release are expressly qualified in
their entirety by such cautionary statements. SunCoke Energy does not
have any intention or obligation to update any forward-looking statement
(or its associated cautionary language), whether as a result of new
information or future events, after the date of this press release,
except as required by applicable law.