NuStar (NS) Unit Prices $250M Senior Notes Offering

NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy L.P. (NYSE: NS), today announced that it has priced $250 million principal amount of 4.750% senior notes due February 1, 2022. The senior notes were priced at 99.764% of par at a yield to maturity of 4.780%. The settlement date for the offering is expected to be February 2, 2012. The senior notes have been rated BBB- by Standard and Poor’s, BBB- by Fitch and Baa3 by Moody’s Investors Service. The net proceeds (before expenses) of approximately $247.8 million from this offering will be used for general partnership purposes, including the repayment of a portion of the outstanding principal balance under NuStar Logistics’ revolving credit facility. On or prior to February 15, 2012, NuStar Logistics intends to reborrow an amount under its revolving credit facility that is sufficient to repay the outstanding principal amount of the 7.75% senior notes due February 15, 2012 issued by NuStar Pipeline Operating Partnership L.P.

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