Credit: Shutterstock photoWestern Refining Logistics, an MLP formed by Western Refining to own midstream assets, announced terms for its IPO on Wednesday. The El Paso, TX-based company plans to raise $250 million by offering 12.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Western Refining Logistics, LP would command a market value of $912 million.
Western Refining Logistics, LP, which was founded in 2013 and booked $102 million in sales (pro forma) for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol WNRL. BofA Merrill Lynch, Barclays, Goldman Sachs and Wells Fargo are the joint bookrunners on the deal.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
