Westlake Chemical Partners closes IPO
05/08/2014 14:20
Westlake Chemical Partners LP, a Westlake company, announced the closing of the Partnership's initial public offering of 12,937,500 common units representing limited partner interests in the Partnership at USD 24 per common unit. The Common Units issued at closing included 1,687,500 common units that were issued pursuant to the full exercise of the underwriters' option to purchase additional Common Units. The Common Units began trading on the New York Stock Exchange on July 30, 2014 under the symbol "WLKP." The Common Units represent an approximate 47.8 per cent limited partner interest in the Partnership, with Westlake Chemical Corporation and its affiliates owning the remaining approximate 52.2 per cent limited partner interest in the Partnership, the general partner interest in the Partnership and the Partnership incentive distribution rights. Barclays and UBS Investment Bank acted as joint book-running managers and structuring agents for this offering. BofA Merrill Lynch, Morgan Stanley and Deutsche Bank Securities acted as joint book-running managers for this offering. J.P. Morgan, Wells Fargo Securities and Goldman, Sachs & Co. acted as co-managers for the offering.
05/08/2014 14:20
Westlake Chemical Partners LP, a Westlake company, announced the closing of the Partnership's initial public offering of 12,937,500 common units representing limited partner interests in the Partnership at USD 24 per common unit. The Common Units issued at closing included 1,687,500 common units that were issued pursuant to the full exercise of the underwriters' option to purchase additional Common Units. The Common Units began trading on the New York Stock Exchange on July 30, 2014 under the symbol "WLKP." The Common Units represent an approximate 47.8 per cent limited partner interest in the Partnership, with Westlake Chemical Corporation and its affiliates owning the remaining approximate 52.2 per cent limited partner interest in the Partnership, the general partner interest in the Partnership and the Partnership incentive distribution rights. Barclays and UBS Investment Bank acted as joint book-running managers and structuring agents for this offering. BofA Merrill Lynch, Morgan Stanley and Deutsche Bank Securities acted as joint book-running managers for this offering. J.P. Morgan, Wells Fargo Securities and Goldman, Sachs & Co. acted as co-managers for the offering.
