LISLE, Ill., May 24, 2017 /PRNewswire/ -- SunCoke Energy
Partners, L.P. (NYSE: SXCP), announced today that the cash tender
offer (the "offer") that it commenced on May
16, 2017 to purchase any and all of its outstanding 7.375%
Senior Notes due 2020 (the "notes"), co-issued by SunCoke Energy
Partners Finance Corp., a wholly owned subsidiary of SXCP, expired
at 5:00 p.m., New York City time, on May 23, 2017.
According to Global Bondholder Services Corporation, the
depositary for the offer, valid tenders had been received at the
expiration of the offer in the amount and percentage set forth in
the table below.
Title of
Security
|
CUSIP
Numbers
|
Principal
Amount
Outstanding
|
Principal
Amount
Tendered
|
Percentage of
Principal Amount
Tendered
|
7.375% Senior
Notes due 2020
|
86723CAA6
|
$462,941,000
|
$420,411,000
|
90.81%
|
|
86723CAC2
|
|
|
|
|
86723CAD0
|
|
|
|
|
86723CAE8
|
|
|
|
|
U86660AB0
|
|
|
|
SXCP expects to accept for payment all notes validly tendered
and not validly withdrawn as of the expiration time of the offer,
and SXCP expects to make payment for these notes later today.
SXCP will apply part of the proceeds from the issuance of SXCP's
$630 million of 7.50% senior notes
due 2025, which is also expected to close today, to the payment for
all notes it purchases in the offer.
BofA Merrill Lynch has served as the exclusive dealer manager
for the offer, and Global Bondholder Services Corporation has
served as the depositary and information agent for the offer.
Questions regarding the terms of the offer may be directed to
BofA Merrill Lynch by calling (888) 292-0070 (toll-free) or (980)
387-5602 (collect).
Subject to settlement of the offer, SXCP expects to issue later
today a notice of redemption respecting any notes not purchased in
the offer.
This press release is neither an offer to purchase nor a
solicitation of an offer to sell any securities. In addition, this
press release does not constitute a notice of redemption under the
indenture governing the notes.
FORWARD-LOOKING STATEMENTS
Some of the statements
included in this press release constitute "forward-looking
statements." Forward-looking statements include all
statements that are not historical facts and may be identified by
the use of such words as "believe," "expect," "plan," "project,"
"intend," "anticipate," "estimate," "predict," "potential,"
"continue," "may," "will," "should" or the negative of these terms
or similar expressions. Forward-looking statements are
inherently uncertain and involve significant known and unknown
risks and uncertainties (many of which are beyond the control of
SXCP) that could cause actual results to differ materially.
Such risks and uncertainties include, but are not limited to,
domestic and international economic, political, business,
operational, competitive, regulatory, and/or market factors
affecting SXCP, as well as uncertainties related to: pending
or future litigation, legislation or regulatory actions; liability
for remedial actions or assessments under existing or future
environmental regulations; gains and losses related to acquisition,
disposition or impairment of assets; recapitalizations; access to,
and costs of, capital; the effects of changes in accounting rules
applicable to SXCP; and changes in tax, environmental and other
laws and regulations applicable to SXCP's businesses.
Forward-looking statements are not guarantees of future
performance, but are based upon the current knowledge, beliefs and
expectations of SXCP management, and upon assumptions by SXCP
concerning future conditions, any or all of which ultimately may
prove to be inaccurate. The reader should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. SXCP does not intend, and
expressly disclaims any obligation, to update or alter its
forward-looking statements (or associated cautionary language),
whether as a result of new information, future events or otherwise
after the date of this press release except as required by
applicable law.
SXCP has included in its filings with the Securities and
Exchange Commission cautionary language identifying important
factors (but not necessarily all the important factors) that could
cause actual results to differ materially from those expressed in
any forward-looking statement made by SXCP. For information
concerning these factors, see SXCP's Securities and Exchange
Commission filings such as its annual and quarterly reports and
current reports on Form 8-K, copies of which are available free of
charge on SXCP's website at www.suncoke.com. All
forward-looking statements included in this press release are
expressly qualified in their entirety by such cautionary
statements. Unpredictable or unknown factors not discussed in
this release also could have material adverse effects on
forward-looking statements.
ABOUT SUNCOKE ENERGY PARTNERS, L.P.
SunCoke Energy
Partners, L.P. (NYSE: SXCP) is a publicly traded master limited
partnership that manufactures high-quality coke used in the blast
furnace production of steel and provides export and domestic coal
handling services to the coke, coal, steel and power industries. In
our cokemaking business, we utilize an innovative heat-recovery
technology that captures excess heat for steam or electrical power
generation and have long-term, take-or-pay coke contracts that pass
through commodity and certain operating costs. Our coal handling
terminals have the collective capacity to blend and transload more
than 40 million tons of coal each year and are strategically
located to reach Gulf Coast, East Coast, Great Lakes and
international ports. SXCP's General Partner is a wholly owned
subsidiary of SunCoke Energy, Inc. (NYSE: SXC), which has more than
50 years of cokemaking experience serving the integrated steel
industry. To learn more about SunCoke Energy Partners, L.P., visit
our website at www.suncoke.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/suncoke-energy-partners-lp-announces-expiration-and-results-of-its-cash-tender-offer-for-any-and-all-of-its-outstanding-7375-senior-notes-due-2020-300462845.html
SOURCE SunCoke Energy Partners, L.P.