Clearly, the most recent energy cycle took its toll on MLP IPOs. From the all-time high in 2013, we saw a double digit drop in 2015 as oil prices declined significantly and the market became weary of hydrocarbon-related investments. The last time the MLP IPO markets were halted was also during the last energy decline, which coincided with The Great Recession. After a summer and fall that finance professionals cannot forget, the debt markets opened up for MLPs in December 2008. It wasn’t until 17 months after that, or April 2010, that the IPO market reopened for MLPs. Will we see another MLP IPO in 2016? Forty percent of this year’s Ammys attendees think we’ll see at least one more. With nine PLRs issued this year and NBLX pricing above expectations we think an uptick is possible.
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