3 Partnerships Coming to Market this Week

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July 27, 2014  11 pm

The coming week will likely see 3 partnerships pricing and beginning to trade.

Westlake Chemical Partners is a new MLP that will come public later this coming week.  The partnership is a ethylene producer with 3 production facilities in this offering.  Pricing will be between $19-$21 and the minimum required quarterly distribution will provide a 5.5% yield (at $20/unit).


We wrote about Westlake previously.

Transocean LTD is spinning out a new LLC–Transocean Partners LLC which will have partial ownership in 3 deepwater oil and gas drilling rigs as their initial holding.  Transocean LTD is a huge ocean driller and provides lots of opportunities for ‘drop downs’ of rigs to the partnership.  This issue will come with a minimum distribution of .3625/unit–for an initial yield (at $20–estimated to come to market at $19-$21/unit) of 7.25%.

Further details of this issue are here.

VTTI Energy Partners LP will come to market late this week with an offering which will own crude oil and refined product terminals around the world.  Again this is slated to come to market at $19-$21/unit with an initial distribution of .2625/unit for a 5.25% yield (at $20).

Details of the issue are here.



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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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