Alon Partners plans roadshow for $450 million eight-year notes

By Paul A. Harris

Portland, Ore., Nov. 12 – Alon Parnters, LP plans to start a roadshow on Thursday for a $450 million offering of eight-year senior notes, according to a market source.

The roadshow wraps up on Tuesday.

Goldman Sachs & Co. and Deutsche Bank Securities Inc. are joint bookrunners for the Rule 144A and Regulation S with registration rights deal. Fifth Third Bank and SunTrust Robinson Humphrey Inc. are the co-managers.

The notes come with three years of call protection.

Proceeds, together with the issuance of common units representing limited partner interests in Alon Partners to a subsidiary of Alon USA Energy, Inc., will be used to fund the cash portion of the pending acquisition of Alon Energy's Krotz Springs refinery, as well as to repay bank debt.

The prospective issuer, a Delaware limited partnership formed by Alon Energy, owns and operates a crude oil refinery in Big Spring, Texas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.