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SunCoke Energy announces pricing of private $70M debt offering

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SunCoke Energy announces pricing of private $70M debt offering

SunCoke Energy Partners LP and its subsidiary SunCoke Energy Partners Finance Corp. Corp. have priced their previously announced private offering of an additional $70 million aggregate principal amount of their 7.5% senior unsecured notes due 2025.

The new notes will be issued at a price equal to $104.25 of the principal amount thereof, plus accrued interest from Dec. 15, resulting in a yield to worst of 6.565%. The company expects to close the sale of the new notes Dec. 19, according to a Dec. 14 release.

The new notes are being offered as additional notes under an indenture pursuant to which the issuers originally issued $630 million aggregate principal amount in May 2017.

SunCoke intends to use the net proceeds received from this offering to repay borrowings outstanding under its revolving credit facility.