Rentech Nitrogen Partners, L.P. Announces Launch of Initial Public Offering
October 26 2011 - 6:11AM
Business Wire
Rentech Nitrogen Partners, L.P. (Rentech Nitrogen) today
announced the launch of its initial public offering of 15,000,000
common units representing limited partner interests at an
anticipated initial public offering price between $19 and $21 per
common unit. Rentech Nitrogen will list its common units on the New
York Stock Exchange under the symbol "RNF." In connection with the
offering, Rentech Nitrogen anticipates granting the underwriters a
30-day option to purchase up to 2,250,000 additional common units
from Rentech Nitrogen at the initial public offering price, less
underwriting discounts and commissions.
After the offering, Rentech, Inc. (NYSE AMEX: RTK) will
indirectly own common units representing approximately 60.8% of
Rentech Nitrogen’s outstanding common units (approximately 54.9% if
the underwriters exercise their option to purchase additional
common units in full) and 100% of the non-economic general partner
interest in Rentech Nitrogen.
Morgan Stanley & Co. LLC and Credit Suisse Securities (USA)
LLC are acting as joint book-running managers for the initial
public offering. Citigroup Global Markets Inc., RBC Capital
Markets, LLC, Imperial Capital, Brean Murray, Carret & Co.,
LLC, Dahlman Rose & Company, LLC and Chardan Capital Markets,
LLC are acting as co-managers for the initial public offering. The
offering will be made only by means of a prospectus. When
available, a preliminary prospectus relating to the offering may be
obtained from:
Morgan Stanley & Co. LLC.180 Varick Street, 2nd FloorNew
York, New York 10014Attn: Prospectus DepartmentEmail:
prospectus@morganstanley.com
Credit Suisse Securities (USA) LLCOne Madison AvenueNew York,
New York 10010Attn: Prospectus DepartmentTelephone: (800)
221-1037
A copy of the preliminary prospectus may also be obtained for
free by visiting the Securities and Exchange Commission's website
at http://www.sec.gov.
A registration statement relating to the common units has been
filed with the Securities and Exchange Commission but has not yet
become effective. The common units may not be sold nor may offers
to buy be accepted prior to the time the registration statement
becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
common units in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state.
This news release contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking
statements involve certain risks and uncertainties, including,
among others, risks impacting the ability of Rentech Nitrogen
Partners to complete any public offering of its securities because
of general market conditions or other factors.
About Rentech Nitrogen Partners, L.P.
Rentech Nitrogen Partners was formed by Rentech, Inc. to own,
operate and expand its nitrogen fertilizer business. Upon
completion of the offering, Rentech Nitrogen Partners’ assets will
consist of a nitrogen fertilizer facility located in East Dubuque,
Illinois, which is currently owned by Rentech Energy Midwest
Corporation, another wholly owned subsidiary of Rentech, Inc. The
facility is located in the Mid Corn Belt in the northwestern corner
of Illinois, adjacent to the Iowa and Wisconsin state lines, and
produces primarily anhydrous ammonia and urea ammonium nitrate
solution, using natural gas as its primary feedstock, for sale to
customers in the Mid Corn Belt.
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