NYLD IPO Preview July 2013

NRG Yield, Inc. (ticker NYLD) is currently out on its IPO roadshow and looking to raise $391.5 million by selling 19.575 million shares (before the over-allotment) at a mid-point price of $20 with an indicated mid-point yield of 6.0%. They currently expect to price the deal July 17, although it seems possible that it could price early if the market remains strongly receptive to growth oriented yield stories.

IMPORTANT: NYLD will provide investors with a 1099-DIV, which makes it appropriate for tax advantaged accounts (if I were ever to buy any I would buy it in my IRA).

NYLD will not be added to the MLP Protocol universe; however, I will keep an eye on it as a possible comp for any future MLP with “Renewable” type assets.

UPDATE 7/16/13: NYLD priced tonight at $22, so one day early and $1 above the high end of the price talk.

About Philip Trinder

President of MLP Protocol, investor, trader, and proponent of Master Limited Partnerships.
This entry was posted in MLP IPO Review, Roadshow Slides and tagged , , , , , . Bookmark the permalink.

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