|By PR Newswire||
|July 29, 2014 07:33 PM EDT||
HOUSTON, July 29, 2014 /PRNewswire/ -- Westlake Chemical Partners LP (the "Partnership"), a Westlake company, today announced the pricing of its initial public offering of 11,250,000 common units representing limited partner interests in the Partnership at $24.00 per common unit. The Partnership has also granted the underwriters a 30-day option to purchase up to an additional 1,687,500 common units. The common units are expected to begin trading on the New York Stock Exchange (NYSE) on July 30, 2014 under the symbol "WLKP."
Upon conclusion of the offering, the public will own an approximate 44.3% limited partner interest in the Partnership (or an approximate 47.8% limited partner interest if the underwriters exercise in full their option to purchase additional common units). Westlake Chemical Corporation and its affiliates will own the remaining approximate 55.7% limited partner interest in the Partnership (or approximate 52.2% limited partner interest if the underwriters exercise in full their option to purchase additional common units), the general partner of the Partnership and the Partnership's incentive distribution rights.
Barclays and UBS Investment Bank are acting as joint book-running managers and structuring agents for the offering. BofA Merrill Lynch, Morgan Stanley and Deutsche Bank Securities are also acting as joint book-running managers. Goldman, Sachs & Co., J.P. Morgan and Wells Fargo Securities are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of these securities is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the final prospectus may be obtained from:
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Toll-Free: (888) 603-5847
UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue
New York, New York 10171
Toll-Free: (888) 827-7275
You may also obtain a copy of the final prospectus free of charge at the SEC's website, www.sec.gov, under the registrant's name "Westlake Chemical Partners LP."
About Westlake Chemical Partners
Westlake Chemical Partners LP is a limited partnership formed to operate, acquire and develop ethylene production facilities and related assets. It is headquartered in Houston, Texas.
This release may include "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Partnership's control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although the Partnership believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.This release contains certain forward-looking statements that are based on current plans and expectations and are subject to various risks and uncertainties. The Partnership's business and any offering may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond the Partnership's control. These factors include, but are not limited to, changes to business plans as circumstances warrant. For a full discussion of these risks and uncertainties, please refer to the "Risk Factors" section of the Partnership's Registration Statement on Form S-1 and the information included in subsequent filings it makes with the SEC. The Partnership refers you to those discussions for further information.
SOURCE Westlake Chemical Partners
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Dec. 6, 2016 07:45 AM EST Reads: 2,080
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Dec. 6, 2016 07:45 AM EST Reads: 894
Dec. 6, 2016 07:15 AM EST Reads: 718
Dec. 6, 2016 07:15 AM EST Reads: 1,824
Dec. 6, 2016 07:00 AM EST Reads: 820
Dec. 6, 2016 06:30 AM EST Reads: 1,106
Dec. 6, 2016 06:15 AM EST Reads: 761
Dec. 6, 2016 06:00 AM EST Reads: 466
Dec. 6, 2016 05:45 AM EST Reads: 5,292
Dec. 6, 2016 05:00 AM EST Reads: 1,647
Dec. 6, 2016 04:45 AM EST Reads: 1,000
Dec. 6, 2016 04:30 AM EST Reads: 1,932
Dec. 6, 2016 04:15 AM EST Reads: 1,755
Dec. 6, 2016 03:45 AM EST Reads: 821
Dec. 6, 2016 01:00 AM EST Reads: 1,849