Monthly Archives: July 2013

ASC IPO Preview July 2013

Posted on July 29, 2013 by Philip Trinder

Ardmore Shipping Corporation (ticker ASC) is currently out on its IPO roadshow and looking to raise $160 million by selling 10 million shares (before the over-allotment) at a mid-point price of $16 with an indicative yield of 2.5%. They currently expect to price … Continue reading →

Posted in MLP IPO Review, Roadshow Slides | Tagged , , | Comments Off on ASC IPO Preview July 2013

MLP Protocol 072613

Posted on July 28, 2013 by Philip Trinder

Key Adjustments: Adjusted CMLP for the Jackalope Gas Gathering acquisition. Added Phillips 66 Partners (PSXP) to the Crude & Refined Products peer group after its wildly successful IPO on July 22. PSXP priced at $23, up 15% from mid-point price of … Continue reading →

Posted in Weekly Updates | Tagged , , , , , , , | Comments Off on MLP Protocol 072613

CVRR 2013 Guidance Update and Yield Estimates

Posted on July 27, 2013 by Philip Trinder

CVRR’s management has graciously been providing distribution guidance since going public this past January. Here’s how that guidance has changed over the past six months: In the IPO Prospectus on pages 63-64 they provided an estimate for Full Year 2013 Distributions … Continue reading →

Posted in Other | Tagged , , , , , , | 6 Comments

FISH IPO Preview July 2013

Posted on July 22, 2013 by Philip Trinder

Marlin Midstream Partners, LP (ticker FISH) is currently out on its IPO roadshow and looking to raise $125 million by selling 6.25 million common units (before the over-allotment) at a mid-point price of $20 with an indicated mid-point yield of 7.00%. They … Continue reading →

Posted in MLP IPO Review, Roadshow Slides | Tagged , , , , , , , , , | Comments Off on FISH IPO Preview July 2013

MLP Protocol 071913

Posted on July 20, 2013 by Philip Trinder

Key Adjustments: Adjusted EQM for a 11 million common unit offering at $43.50 on July 16 (6.3% discount to July 15 close, upsized from original deal size of 10 million units) and made pro forma adjustments for the Sunrise Pipeline acquisition. … Continue reading →

Posted in Weekly Updates | Tagged , , , , , , | Comments Off on MLP Protocol 071913

PSXP IPO Preview July 2013

Posted on July 18, 2013 by Philip Trinder

Phillips 66 Partners, LP (ticker PSXP) is currently out on its IPO roadshow and looking to raise $300 million by selling 15 million common units (before the over-allotment) at a mid-point price of $20 with an indicated mid-point yield of 4.25%. … Continue reading →

Posted in MLP IPO Review, Roadshow Slides | Tagged , , , , , , , , , | Comments Off on PSXP IPO Preview July 2013

JONE IPO Preview July 2013

Posted on July 16, 2013 by Philip Trinder

Jones Energy, Inc. (ticker JONE) is currently out on its IPO roadshow and looking to raise $252 million by selling 14 million shares (before the over-allotment) at a mid-point price of $18. They currently expect to price the deal July 23. Jones Energy is … Continue reading →

Posted in MLP IPO Review, Roadshow Slides | Tagged , , | 1 Comment

MLP Protocol 071213

Posted on July 13, 2013 by Philip Trinder

Key Adjustments: Adjusted NGL for a 9 million common unit offering at $29.00 on July 9 (7.7% discount to July 8 close). Distribution announcements for the second quarter have commenced so the Distribution Growth summary page is now included in … Continue reading →

Posted in Weekly Updates | Tagged , , , , , , , | Comments Off on MLP Protocol 071213

NYLD IPO Preview July 2013

Posted on July 9, 2013 by Philip Trinder

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 … Continue reading →

Posted in MLP IPO Review, Roadshow Slides | Tagged , , , , , | Comments Off on NYLD IPO Preview July 2013

MLP Protocol 070513

Posted on July 6, 2013 by Philip Trinder

Key Adjustments: Adjusted distribution estimates for LINE to exclude the possible BRY acquisition in light of the current price moves making it look unfavorable for BRY shareholders. Adjusted all Upstream MLPs to be rated as Extremely Risky (a few were Very Risky) given the … Continue reading →

Posted in Weekly Updates | Tagged , , , , , , | Comments Off on MLP Protocol 070513