Blackstone-controlled APT files for IPO

OCTOBER 23, 2013 —  Blackstone-controlled American Petroleum Tankers Partners LP has filed with the SEC to raise up to $173 million in an initial public offering.

It plans to list on the NYSE under the symbol JAT. American BofA Merrill Lynch, Barclays, Credit Suisse, UBS Investment Bank and Wells Fargo Securities are the joint bookrunners on the deal.

No pricing terms were disclosed.

On closing the offering, the company will own and operate APT’s current five NASSCO-built State Class Jones Act Tankers, all of which are on time charters, and will also enter an option to purchase the four State Class newbuilds currently under construction at NASSCO’s San Diego shipyard for a Blackstone affiliates. All those ships have time charters, starting on their respective delivery dates, with oil majors.

Read the S1 filing HERE