Southcross Energy Prices Public Offering At $16.50 Per Unit

(RTTNews) - Southcross Energy Partners, L.P. (SXE) Thursday announced the pricing of its public offering of 8 million common units at $16.50 per unit.

The partnership also granted the underwriters a 30-day option to purchase up to an additional 1.2 million common units from the partnership at the public offering price, less the underwriting discount.

The offering is expected to close on or about February 5.

Southcross plans to use the net proceeds from the offering, including any net proceeds from the underwriters' exercise of their option, to fund the recently announced construction of its new Webb Pipeline and for general partnership purposes, including future acquisitions.

Pending such use, Southcross will temporarily repay borrowings under its revolving credit facility.

Citigroup, Wells Fargo Securities, Barclays, J.P. Morgan, Raymond James and RBC Capital Markets are acting as joint book-running managers for the offering. Baird and Stifel are acting as co-managers.