Five IPOs Scheduled For Week Of January 14th, looking to raise $1.7 billion. The full IPO calendar is available here.
Based in Carrollton, TX, CyrusOne scheduled a $281 million IPO with a market capitalization of $1.05 billion at a price range mid-point of $17, for Friday, January 18, 2013.
CONE is a REIT data center carve-out of Cincinnati Bell (NYSE:CBB), $1 billion market capitalization. The data center REIT stock sector has been strong since November lows, up an average of 20%.
CONE minimum an annual distribution rate is 3.8% at the price range mid-point.
CVR Refining, LP (NYSE:CVRR)
Based in Sugar Land, TX, CVR Refining, LP (CVRR) scheduled a $500 million IPO with a market capitalization of $3.7 billion at a price range mid-point of $25, for Thursday, January 17, 2013.
CVRR is a limited partnership comparable to Alon Partners (NYSE:ALDW) that IPO'd November 19, 2012
CVRR is an independent downstream energy limited partnership with refining and related logistics assets that operates in the mid-continent region. CVRR owns two of only seven refineries in the underserved Group 3 of the PADD II region of the United States.
Norwegian Cruise Line Holdings (NCLH)
Based in Bermuda with executive offices in Miami, Norwegian Cruise Line Holdings (NASDAQ:NCLH) scheduled a $434 million IPO with a market capitalization of $3.4 billion at a price range mid-point of $17, for Friday January 18, 2013.
From the low prices this year, RCL is up 59% and CCL is up 22%, which shows institutional interest in the cruise line sector.
SunCoke Energy Partners, L.P. (NYSE:SXCP)
Based in Lisle, IL, SunCoke Energy Partners, L.P. (SXCP) scheduled a $270 million IPO with a market capitalization of $640 million at a price range mid-point of $20, for Friday, January 18, 2013.
Top line revenue has increased the past four years and SXCP projects partnership earnings of $90 million for 2013, a 13.7% net margin on revenue.
The minimum partnership distribution is expected to be 8.25%; $53 million per year.
USA Compression Partners, LP (NYSE:USAC)
Based in Austin, Texas, USA Compression Partners, LP (USAC) scheduled a $200 million IPO with a market capitalization of $572 million at a price range mid-point of $20, for Tuesday, January 15, 2013.
USAC is a service company providing gas compression equipment on a rental basis in shale oil plays. The minimum estimated payout is 8.5% for 2013.
A competitor, Exterran Partners, L..P. currently pays out 9.2%. USAC, however, is priced at a book value discount.