Monthly Archives: April 2013

MLP Protocol 042613

Key adjustments from last week: Adjusted SXE for the $40 million of Series A Convertible Preferred units it issued on April 15 that was done in conjunction with an amendment to its credit facility to loosen the financial covenants. Preferred units will … Continue reading

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MLP Protocol 041913

Key adjustments from last week: Adjusted AMID for the following announcements on April 16: High Point Infrastructure Partners, LLC  (“High Point”), a portfolio company of ArcLight Capital Partners, LLC (“ArcLight”), acquiring 90% of AMID’s General Partner and 100% of its … Continue reading

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MLP Protocol 041213

Key adjustments from last week: Added KNOT Offshore Partners LP (“KNOP”) to the Marine MLP segment after its very successful IPO at $21 on April 9. Adjusted the Markets and Levels data to just utilize the commodity spot prices provided by … Continue reading

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MLP Protocol 040513

Key adjustments from last week: Adjusted SEP for a 4.5 million unit equity offering at $37.25 on April 2 (4% discount to prior close). Adjusted NKA for its equity restructuring announced on April 3: Equity restructuring combines and restructures subordinated … Continue reading

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Tier 3 EPA Panic for Refiners 040213

There are four publicly traded MLPs that own refining assets: ALDW, CLMT, CVRR and NTI. In my analytics I currently have the Variable Rate Refining MLPs ALDW, CVRR and NTI categorized as “Extremely Risky” and CLMT as “Very Risky” and today was an example of … Continue reading

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KNOT Offshore Partners LP Roadshow Slides 040213

KNOT Offshore Partners, LP (ticker KNOP) is currently out on its IPO roadshow and looking to raise $149 million by selling 7.45 million common units at a mid-point price of $20 with an indicated mid-point yield of 7.50%. They expect … Continue reading

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