USD Partners LP Prices IPO At $17.00 Per Unit

(RTTNews) - USD Partners LP announced the pricing of its initial public offering of 9.12 million common units representing limited partner interests at $17.00 per common unit. The common units are expected to begin trading on the New York Stock Exchange on October 9, 2014 under the ticker symbol "USDP".

The underwriters have a 30-day option to purchase up to an additional 1.09 million common units to cover over-allotments, if any. The offering is expected to close on or about October 15, 2014, subject to satisfaction of closing conditions.

At the closing of the offering, the public will own a 42.7% limited partner interest in the Partnership, or a 47.8% limited partner interest if the underwriters exercise their option to purchase additional common units in full. USD Group LLC ("USDG"), through certain of its subsidiaries, will hold a 2.0% general partner interest, all of the incentive distribution rights and a 54.1% limited partner interest in the Partnership, or a 49.0% limited partner interest if the underwriters exercise their option to purchase additional units in full.

Citigroup, Barclays, Credit Suisse and BofA Merrill Lynch are acting as book-running managers for the proposed offering. Evercore, BMO Capital Markets, Deutsche Bank Securities, Goldman, Sachs & Co., RBC Capital Markets and Janney Montgomery Scott are acting as co-managers for the proposed offering. Evercore, Citigroup and Barclays are acting as co-structuring advisors for the proposed offering.