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Carlyle-backed Philadelphia Energy Solutions files for IPO

(Reuters) – Philadelphia Energy Solutions, a joint venture part owned by Carlyle Group LP, filed with U.S. regulators for an initial public offering.

The company, which operates the largest refinery on the U.S. East Coast, said BofA Merrill Lynch and Credit Suisse were underwriting the IPO.

The filing had a nominal fundraising target of $100 million.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.