Northern Tier Energy Stock Offering Priced
Northern Tier Energy has put a price tag on the previously announced public stock issue by closely related entity Northern Tier Holdings. The price is $26.28 for each of the 12 million common units being floated. Additionally, the issue's underwriters will be granted a 30-day purchase option for up to an additional 1.8 million units.
In the press release announcing the move, Northern Tier Energy stressed it will not receive any proceeds from the offering.
The book-running syndicate handling the issue consists of Barclays' Barclays Capital unit, Bank of America division Merrill Lynch, Citigroup's Global Markets, Goldman Sachs, and the Securities arms of Credit Suisse, Deutsche Bank, UBS, and JPMorgan Chase.
The article Northern Tier Energy Stock Offering Priced originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Goldman Sachs and owns shares of Bank of America, Citigroup, and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.