| Ticker: NPL | IES Tower, 200 1st Street S.E., Suite 1700 | |
| Exchange: New York Stock Exchange | Cedar Rapids, Iowa 52401 | |
| Industry: Retail | (319) 365-1550 |
| Type of Shares: | Limited Partnership Interests | Filing Date: | 3/27/96 | |
| U.S. Shares: | 6,190,476 | Offer Date: | 6/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $20.50 - $21.50 | |
| Primary Shares: | 6,190,476 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.37 | |
| Offering Amount: | $129,999,996 | Selling: | $0.85 | |
| Expenses: | $3,350,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,724,114 | |||
| Spin out parent firm: | Triarc Cos. | |||
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| Janney Montgomery Scott | Co-manager | (215) 665-6520 |
| Rauscher Pierce Refsnes, Inc. | Co-manager | (214) 978-5491 |
| Robinson-Humphrey Company, Inc., The | Co-manager | (404) 266-6000 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $148.98 | $59.98 | $50.30 | Assets: | $147.38 |
| Net Income: | -$0.61 | $5.52 | $4.80 | Liabilities: | $190.46 |
| EPS: | $0.97 | $1.02 | Equity: | -$43.08 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Partnership, a Delaware limited partnership recently formed to acquire, own and operate the business assets of National Propane, is engaged primarily in two areas. The company is engaged primarily in: (i) the retail marketing of propane to residential, commercial and industrial, and agricultural customers and to dealers (located primarily in the Northeast) that resell propane to residential and commercial customers and (ii) the retail marketing of propane-related supplies and equipment, including home and commercial appliances. The Partnership believes it is the fifth largest retail marketer of propane in terms of volume in the United States, supplying approximately 250,000 active retail and wholesale customers in 24 states through its 165 service centers located in 23 states. The Partnership's operations are concentrated in the Midwest, Northeast, Southeast and Southwest regions of the United States. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay existing debt and to make certain payments and advances to Triarc and for fees and expenses to unaffiliated third parties incurred in connection with the issuance of the Common Units. |
©1996 IPO Data Systems, Inc. - All rights reserved.