Sprague Resources Prices 8.5 Mln Units IPO At $18/Unit - Quick Facts

(RTTNews) - Sprague Resources LP (SRLP) has priced its initial public offering of 8.5 million common units representing limited partner interests at $18.00 per unit. The common units would begin trading on the New York Stock Exchange on October 25, 2013 under the ticker "SRLP." The offering may close on October 30.

The company would use the net proceeds of the offering to reduce indebtedness. The underwriters were granted a 30-day option to buy up to an additional 1.275 million units at the initial public offering price.

Barclays Capital Inc., J.P. Morgan Securities LLC, and BofA Merrill Lynch are acting as joint book-running managers for the offering and BMO Capital Markets Corp., Raymond James & Associates, Inc., Janney Montgomery Scott LLC, BNP Paribas Securities Corp., Natixis Securities Americas LLC, RBS Securities Inc. and SG Americas Securities, LLC are acting as co-managers for the offering.