OCI N.V. announced that its subsidiary, OCI Partners LP (the “Partnership”), has priced its initial public offering of 17,500,000 common units representing limited partner interests in the Partnership (“Common Units”) at US$ 18 per Common Unit.
The Common Units are expected to begin trading on the New York Stock Exchange on October 4, 2013 under the ticker symbol “OCIP.” The offering is expected to close on or about October 9, 2013, subject to customary closing conditions.
Upon completion of the offering, the public will own a 21.7% limited partner interest in the Partnership. OCI USA Inc., an indirect wholly owned subsidiary of OCI N.V., will own a 78.3% limited partner interest in the Partnership.
OCI Partners LP priced at US$ 18 per Common Unit resulting in an enterprise value of approximately US$ 2 billion.
BofA Merrill Lynch, Barclays and Citigroup are acting as joint book-running managers for the offering. Allen & Company LLC and J.P. Morgan are co-managers for the offering. This offering of Common Units is being made only by means of a written prospectus.