OCI Partners LP Prices Initial Public Offering
NEDERLAND, Texas, Oct. 3, 2013 /PRNewswire/ -- OCI Partners LP, a Delaware limited partnership (the "Partnership"), announced today that it has priced its initial public offering of 17,500,000 common units representing limited partner interests in the Partnership ("Common Units") at $18 per Common Unit. The Common Units are expected to begin trading on the New York Stock Exchange on October 4, 2013 under the ticker symbol "OCIP." The offering is expected to close on or about October 9, 2013, subject to customary closing conditions.
Upon completion of the offering, the public will own a 21.7 percent limited partner interest in the Partnership. OCI USA Inc., an indirect wholly owned subsidiary of OCI N.V., will own a 78.3 percent limited partner interest in the Partnership.
BofA Merrill Lynch, Barclays and Citigroup are acting as joint book-running managers for the offering. Allen & Company LLC and J.P. Morgan are co-managers for the offering. This offering of Common Units is being made only by means of a written prospectus. A written prospectus, which meets the requirements of Section 10 of the Securities Act of 1933, may be obtained from:
BofA Merrill Lynch
New York, NY 10038
Attention: Prospectus Department
1155 Long Island Avenue
Edgewood, NY 11717
Phone: (888) 603-5847
Barclaysc/o Broadridge Financial Solutions
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Phone: (800) 831-9146
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC"). The registration statement is available on the SEC's website at www.sec.gov. 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.
OCI Partners LP
OCI Partners LP is a master limited partnership that owns and operates a recently upgraded, integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont. The Partnership is headquartered in Nederland, Texas. OCI Beaumont currently has a methanol production capacity of 730,000 metric tons per year and an ammonia production capacity of 265,000 metric tons per year. The facility is currently undertaking a debottlenecking project that will increase its annual methanol production capacity by 25% to approximately 912,500 metric tons and its annual ammonia production capacity by 15% to approximately 305,000 metric tons. The project is expected to be complete during 3Q 2014.
This press release contains forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant, our Common Units may not begin trading on the New York Stock Exchange as expected and the offering may not close as expected. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of the registration statement on Form S-1 filed with the SEC, as amended. The Partnership undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
SOURCE OCI Partners LP
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