Southcross Energy Partners, L.P. Prices Initial Public Offering
DALLAS -- November 01, 2012
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
Barclays J.P. Morgan
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.
Southcross Energy Partners, L.P.
Phone: (214) 979-3720
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