Maker of soda ash, yield play with a target of 10% based on a pricing at the midpoint of the $19 to $21 filing range. They mine and refine naturally soda ash out of Wyoming. Soda ash used heavily in glass and other applications.
Leads are Citi and Goldman with Barclays and Credit Suisse as co-managers.
Deal structure is a little complicated with 8 or 9 entities being involved in the ownership and operation of the company. Company started up in 1962.
Basic commodity story with their stated advantages being a low cost producer, 67 year reserve life, stable . . .