SunCoke Energy starts roadshow for $150 million seven-year notes

By Paul A. Harris

Portland, Ore., Jan. 8 - SunCoke Energy, Inc. began a roadshow for a $150 million offering of seven-year senior notes (B1) on Tuesday, according to market sources.

The deal is expected to price mid-to-late in the week ahead.

The issuing entities are SunCoke Energy Partners, LP (the partnership), a Delaware limited partnership that is a wholly owned subsidiary of SunCoke Energy, and SunCoke Energy Partners Finance Corp., a wholly owned subsidiary of the partnership.

J.P. Morgan Securities LLC, Barclays and RBC Capital Markets are the joint bookrunners.

BB&T Capital Markets, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and RBS Securities Inc. are the co-managers.

The Rule 144A and Regulation S for life notes become callable in three years at par plus 75% of the coupon.

In conjunction with the notes offer the company has undertaken an initial public offering of 13.5 million of its common units.

The Lisle, Ill.-based producer of metallurgical coke plans to use the proceeds from the notes and units to repay a portion of its term loan, fund a distribution to SunCoke Energy, Inc. and fund cash on the balance sheet at the master limited partnership level in order that it may prefund obligations.

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