DALLAS -- Alon USA Energy Inc. has announced that its subsidiary, Alon USA Partners LP, a Delaware limited partnership, has filed a registration statement on Form S-1 with the U.S. Securities & Exchange Commission (SEC) relating to the proposed $230 million initial public offering (IPO) of common units representing limited partner interests in Alon Partners.
Alon USA formed Alon Partners to own, operate and grow its strategically located crude oil refinery in Big Spring, Texas, with total throughput capacity of approximately 70,000 barrels per day, and the related petroleum products marketing business.
The company's convenience store division is not included in the offering.
In May, Alon Brands--the retail and branded marketing subsidiary of Alon USA Energy Inc.--filed a motion with the SEC withdrew a filing for an IPO it initiated in November 2008 (see Related Content below for previous CSP Daily News coverage).
Application will be made to list the common units of Alon Partners on the New York Stock Exchange under the symbol ALDW.
Alon USA said that it intends to use the net proceeds of the offering to reduce its outstanding indebtedness.
Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, and Citigroup Global Markets Inc. are acting as joint book-running managers, and Jefferies & Company, Inc. is acting as lead managing underwriter.
Alon USA Energy, Dallas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The company owns four crude oil refineries in Texas, California, Louisiana and Oregon, with an aggregate crude oil throughput capacity of approximately 250,000 barrels per day.
Alon Brands Inc. includes retail arms Southwest Convenience Stores LLC and Skinny's LLC, as well as Alon Marketing and SCS Beverage Inc. Alon Brands is the largest 7-Eleven licensee in North America, marketing motor fuel products at more than 600 distributor-serviced locations in the Southwest. The company's products also are sold at more than 300 additional company-owned locations in Texas and New Mexico.