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SXCP Acquires Convent Marine Terminal for $412 Million

SXCP has acquired Convent Marine Terminal, a premier export hubs on the U.S. Gulf Coast, for $412 million. Located in Convent, La., the terminal supports low-cost Illinois Basin coal producers and provides strategic access to seaborne markets for coal and other industrial materials.

“This acquisition will represent a compelling strategic fit by adding a preeminent export asset to our coal logistics business,” said Fritz Henderson, Chairman and CEO of SunCoke Energy Partners, L.P. “We expect this transaction will be accretive from day one with consistent earnings and stable cash flows for SXCP, resulting in increased cash distributions to SXCP unitholders and higher incentive distribution payments to our general partner.”

Corporate Profile

SunCoke Energy Partners, L.P. (NYSE: SXCP) is a publicly traded master limited partnership that manufactures high-quality coke used in the blast furnace production of steel and provides coal handling services to the coke, steel and power industries. In our cokemaking business, we utilize an innovative heat-recovery technology that captures exces... More >>

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Recent NewsMore >>
09/21/15SunCoke Announces Management Changes
LISLE, Ill.--(BUSINESS WIRE)--Sep. 21, 2015-- SunCoke Energy, Inc. (NYSE: SXC) and SunCoke Energy Partners, L.P. (NYSE: SXCP) today announced leadership changes designed to streamline management and drive greater effectiveness across the organization. Michael J. Thomson, President and Chief Operating Officer, is leaving the Company and stepping down from the SunCoke Energy Partners, L.P. Board of Directors to pursue other interests. As a result, ... 
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08/13/15SunCoke Energy Partners, L.P. Announces Its Restricted 7.375% Senior Notes Due 2020 Are Now Eligible for Exchange for Freely Tradable Notes
LISLE, Ill.--(BUSINESS WIRE)--Aug. 13, 2015-- SunCoke Energy Partners, L.P. (NYSE: SXCP) today announced that its outstanding 7.375% Senior Notes due 2020 (the "2020 Notes") are now freely tradable without restrictions by non-affiliates of SXCP. The 2020 Notes were issued in non-registered private offerings in January 2013 and May 2014, and were subject to restrictions on transfer under the indenture governing the 2020 Notes (the “Restricted Notes”). The... 
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08/12/15SunCoke Energy Partners, L.P. Completes Convent Marine Terminal and Granite City Cokemaking Facility Acquisitions
LISLE, Ill.--(BUSINESS WIRE)--Aug. 12, 2015-- SunCoke Energy Partners, L.P. (NYSE: SXCP) today closed on its previously announced acquisitions of the Convent Marine Terminal (CMT) and additional 23 percent interest in the Granite City cokemaking facility for $412 million and $67 million, respectively. The CMT acquisition, purchased from an affiliate of The Cline Group, was funded via a combination of equity, seller financing and cash as pr... 
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07/21/15SunCoke Energy Partners, L.P. to Expand Coal Logistics Business with Acquisition of Premier Gulf Coast Coal Export Hub
Agrees to Purchase Convent Marine Terminal for $412 Million LISLE, Ill.--(BUSINESS WIRE)--Jul. 21, 2015-- SunCoke Energy Partners, L.P. (NYSE: SXCP) has entered into an agreement with Raven Energy Holdings, LLC, an affiliate of The Cline Group, to acquire Convent Marine Terminal in Convent, La., for $412 million. This transaction is expected to close by September 1, 2015, subject to customary closing conditions and regulatory approvals. ... 
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