Northern Tier Energy LP (NYSE: NTI) has priced its underwritten public offering of 10.7 million common units at $24.46 per unit.
In addition, the selling unitholder has granted the underwriters a 30-day option to purchase up to an additional some 1.6 million common units. The partnership will not receive any proceeds from the sale. The offering is expected to close on Jan. 24, subject to customary closing conditions.
Barclays Capital Inc., BofA Merrill Lynch, Goldman, Sachs & Co., Citigroup Global Markets Inc., UBS Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., and J.P. Morgan Securities LLC are book-runners. Macquarie Capital (USA) Inc. is co-manager.
Northern Tier Energy is an independent downstream energy company headquartered in Ridgefield, Conn., with refining, retail, and pipeline operations serving the PADD II region of the US.