3 New Partnerships Priced – 1 Trading

The new partnerships we highlighted last Sunday have all priced and 1 (Westlake Chemical Partners LP – ticker:WLKP) has been trading for 2 days. Westlake Chemical Partners LP priced Monday night at $24/unit, but opened trading on Wednesday at $30 before moving over $31 Thursday before dropping back a few cents today.  Obviously at this pricing we have no interest as the promised distribution is only 3.6%.  Further details are here.

VTTI Energy Partners LP has price tonight at $21/unit. VTTI will own crude oil and refined product terminals around the world. This should begin trading on Friday.  Minimum initial distribution is slated at .2625/unit for a 5% yield.  Further details of the issue are here.

Transocean Partners LLC priced tonight at $22–and should trade Friday–if we have the chance we may purchase some of this deep water driller as it comes with a minimum distribution 6.6%.  Additionally we believe this issue has the best long term growth prospects of these 3 issues. Further details are here.