DALLAS--()--Southcross Energy Partners, L.P., a Delaware limited partnership (the “Partnership”), announced today the pricing of its initial public offering of 9,000,000 common units at $20.00 per unit. The common units are expected to begin trading on the New York Stock Exchange on November 2, 2012 under the ticker symbol “SXE.” The underwriters have the option to purchase up to an additional 1,350,000 common units from the Partnership at the same price. The offering is expected to close on or about November 7, 2012, subject to customary closing conditions.
Upon conclusion of the offering, the public will own an approximate 36% limited partner interest in the Partnership, or an approximate 42% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units. Southcross Energy LLC will hold, directly or indirectly, a 2% general partner interest and an approximate 62% limited partner interest in the Partnership, or an approximate 56% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units.
Citigroup, Wells Fargo Securities, Barclays and J.P. Morgan are acting as joint book-running managers for the offering. RBC Capital Markets, Raymond James, Baird, Stifel Nicolaus Weisel and SunTrust Robinson Humphrey are acting as co-managers for the offering.
This offering of common units will be made only by means of a prospectus. When available, a written prospectus, which meets the requirements of Section 10 of the Securities Act of 1933, may be obtained from the offices of:
|Citigroup||Wells Fargo Securities|
|c/o Broadridge Financial Solutions||Attention: Equity Syndicate Dept|
|1155 Long Island Avenue||375 Park Avenue|
|Edgewood, NY 11717||New York, NY 10152|
|c/o Broadridge Financial Solutions||c/o Broadridge Financial Solutions|
|1155 Long Island Avenue||1155 Long Island Avenue|
|Edgewood, NY 11717||Edgewood, NY 11717|
A registration statement relating to these securities has been filed with, and declared effective by, the SEC. The registration statement is available on the SEC’s website at www.sec.gov under the registrant’s name, “Southcross Energy Partners, L.P.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described above, 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 registration or qualification under the securities laws of any such state or jurisdiction.
About Southcross Energy Partners, L.P.
Southcross Energy Partners, L.P. is a master limited partnership that provides natural gas gathering, processing, treating, compression and transportation services and NGL fractionation and transportation services for its producer customers. The Partnership also sources, purchases, transports and sells natural gas and NGLs to its power generation, industrial and utility customers. The Partnership’s assets are located in South Texas, Mississippi and Alabama and include three gas processing plants, two fractionation plants and 2,590 miles of pipeline. The Partnership’s South Texas assets are located in or near the Eagle Ford shale region. Southcross Energy Partners, L.P. is headquartered in Dallas, Texas.