Crude takes a cut: Oil shipper Navios Midstream LP prices IPO 25% below midpoint at $15

Navios Maritime Midstream Partners LP, an MLP formed by Navios Maritime to operate four contracted crude oil tankers, raised $122 million by offering 8.1 million shares at $15, a 25% discount to the original range of $19 to $21. Navios Maritime Midstream Partners LP plans to list on the NYSE under the symbol NAP. BofA Merrill Lynch, Citi, J.P. Morgan, Credit Suisse and Wells Fargo Securities acted as lead managers on the deal.