Suncoke energy partners, l.p. announces solicitation of consents to
amend the indenture for its 7.375% senior notes due 2020
Lisle, ill.--(business wire)--suncoke energy partners, l.p. (nyse: sxcp) today reported that it has commenced soliciting consents (the “consent solicitation”) from the holders of the $150 million of its outstanding 7.375% senior notes due 2020 (the "2020 notes") to amend the indenture governing the 2020 notes to permit the obligors on the 2020 notes to incur additional secured indebtedness under credit facilities. only holders (each, a “holder”) that held 2020 notes as of 5:00 p.m., new york city time, on april 25, 2014 may give consents and participate in the consent solicitation. the consent solicitation is being made in conjunction with, and it is conditioned upon the closing of, two previously announced transactions: (1) the private placement of an additional $250 million of the 2020 notes and (2) sxcp’s agreement with its sponsor, suncoke energy, inc. (nyse: sxc), to acquire an additional 33% equity interest in sxcp’s haverhill and middletown cokemaking facilities. purchasers of these additional $250 million of 2020 notes will be deemed to consent to the amendments to the indenture, and their consents will be sufficient to make the amendments effective, irrespective of the outcome of the consent solicitation. the purchasers will not receive any consideration for their consents to the amendments. sxcp expects the closings of these two transactions to occur on may 9, 2014. the consent solicitation is scheduled to expire at 3:00 p.m., new york city time, on may 9, 2014, unless extended ("expiration date"). sxcp will, promptly after the expiration date and the satisfaction or waiver of all conditions to the consent solicitation, pay to each holder who has delivered (and not revoked) prior to the expiration date a valid consent in favor of the amendments a cash payment of $2.50 for each $1,000 principal amount of 2020 notes in respect of which the consent has been delivered. consents to the amendments to the indenture may be revoked at any time prior to the earlier of 3:00 p.m., new york city time, on may 9, 2014, and the date on which the amendments become effective. the complete terms and conditions of the consent solicitation, including a detailed description of the proposed amendments to the indenture and the proper procedures and forms for delivering and revoking consents, are described in the consent solicitation statement and the letter of consent, each dated april 28, 2014, copies of which may be obtained from global bondholder services corporation, the tabulation agent, information agent and paying agent for the consent solicitation, by calling, in the case of banks and brokers, (212) 430-3774 and, for all others, (866) 470-3700 (us toll-free). sxcp has also retained citigroup global markets inc. and barclays capital inc. as solicitation agents for the consent solicitation. questions regarding the terms of the consent solicitation may be directed to citigroup at (212) 723-6106 (collect) and (800) 558-3745 (us toll-free) or to barclays at (212) 528-7581 (collect) and (800) 438-3242 (us toll-free). sxcp reserves the right to extend or terminate the consent solicitation. this announcement is not a solicitation of consents with respect to any securities. the consent solicitation is being made solely by the consent solicitation statement and letter of consent, each dated april 28, 2014. the solicitation is not being extended to holders of 2020 notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. about suncoke energy partners, l.p. suncoke energy partners, l.p. (nyse: sxcp) is a publicly-traded master limited partnership that manufactures coke used in the blast furnace production of steel and provides coal handling services to the coke, steel and power industries. our advanced, heat recovery cokemaking process produces consistently high-quality coke, captures waste heat to generate steam or electricity, and reduces environmental impacts. our coal handling terminals have the collective capacity to blend and transload more than 30 million tons of coal annually and are strategically located to enable material delivery to u.s. ports in the gulf coast, east coast and great lakes. our general partner is a wholly owned subsidiary of suncoke energy, inc. (nyse: sxc), the largest independent producer of coke in the americas, with 50 years of cokemaking experience and an international reputation for leadership, innovation and environmental stewardship in our industry. forward looking statements some of the statements included in this press release constitute “forward looking statements.” forward-looking statements include all statements that are not historical facts and may be identified by the use of such words as “believe,” “expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions. forward-looking statements are inherently uncertain and involve significant known and unknown risks and uncertainties (many of which are beyond the control of the partnership) that could cause actual results to differ materially. such risks and uncertainties include, but are not limited to domestic and international economic, political, business, operational, competitive, regulatory and/or market factors affecting the partnership, as well as uncertainties related to: pending or future litigation, legislation, or regulatory actions; liability for remedial actions or assessments under existing or future environmental regulations; gains and losses related to acquisition, disposition or impairment of assets; recapitalizations; access to, and costs of, capital; the effects of changes in accounting rules applicable to the partnership; and changes in tax, environmental and other laws and regulations applicable to the partnership’s businesses. forward-looking statements are not guarantees of future performance, but are based upon the current knowledge, beliefs and expectations of company management, and upon assumptions by the partnership concerning future conditions, any or all of which ultimately may prove to be inaccurate. the reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. the partnership does not intend, and expressly disclaims any obligation, to update or alter its forward-looking statements (or associated cautionary language), whether as a result of new information, future events or otherwise after the date of this press release except as required by applicable law. the partnership has included in its filings with the securities and exchange commission cautionary language identifying important factors (but not necessarily all the important factors) that could cause actual results to differ materially from those expressed in any forward-looking statement made by the partnership. for information concerning these factors, see the partnership’s securities and exchange commission filings such as its annual and quarterly reports and current reports on form 8-k, copies of which are available free of charge on the partnership’s website at www.sxcpartners.com. all forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. unpredictable or unknown factors not discussed in this release also could have material adverse effects on forward-looking statements.
