Northern Tier Energy LP (NTI) said Tuesday it has priced an underwritten public offering of 12 million common units representing limited partner interests in the Partnership held by Northern Tier Holdings LLC (the selling unitholder) at a price to the public of $26.28 per unit.
In addition, the selling unitholder has granted the underwriters a 30-day option to purchase up to an additional 1.8 million common units.
The Partnership will not receive any proceeds from the sale of the common units in the offering, which is expected to close on May 6, subject to customary closing conditions.
Barclays Capital Inc., BofA Merrill Lynch, Goldman, Sachs & Co., Citigroup Global Markets Inc., are among the bookrunners for the offering.
Ridgefield, Connecticut-based Northern Tier Energy is an independent downstream energy company with refining, retail, and pipeline operations.
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