SunCoke Energy starts roadshow for $675 million eight-year notes; pricing this week

By Paul A. Harris

Portland, Ore., May 16 – SunCoke Energy Partners Finance Corp., a wholly owned subsidiary of SunCoke Energy Partners, LP, began a roadshow on Monday for a $675 million offering of eight-year senior notes, according to a market source.

The deal, which is in the market with initial guidance in the high 6% to low 7% range, is expected to price later this week, the source added.

BofA Merrill Lynch, ABN Amro, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and TD Securities are managing the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

The Lisle, Ill.-based master limited partnership plans to use the proceeds, together with borrowings under a new revolving credit facility and cash on hand, to fund the purchase of its 7 3/8% senior notes due 2020, via a concurrent tender offer, as well as to repay debt under its existing revolver, term loan and promissory note.

The prospective issuer manufactures coke used for steel manufacturing and the power industry.

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