Susser Petroleum Partners LP, a Delaware limited partnership, announced Monday that it has commenced an initial public offering of 9.50 million common units representing limited partner interests in Susser Petroleum Partners.
The underwriters will be granted a 30-day option to purchase up to an additional 1.43 million common units. The common units will be listed on the New York Stock Exchange and traded under the symbol SUSP, Susser Petroleum said.
Susser Petroleum Partners was formed by Susser Holdings Corp. (SUSS) to engage in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties.
The common units being offered to the public represent a 43.4% limited partner interest in Susser Petroleum Partners, or a 49.9% limited partner interest if the underwriters exercise their option to purchase additional common units in full.
BofA Merrill Lynch, Barclays, Wells Fargo Securities and UBS Investment Bank are acting as joint book-running managers for the offering.
RBC Capital Markets, Raymond James, BMO Capital Markets, Baird and Janney Montgomery Scott are acting as co-managers for the offering.
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