Sunoco LP announces $1 billion private offering of senior notes

Sunoco LP (NYSE: SUN) announced a private offering of $1 billion in senior notes, consisting of $500 million in notes due 2031 and $500 million in notes due 2034.

The partnership plans to use proceeds from the offering, combined with borrowings under its revolving credit facility, to redeem NuStar Logistics, L.P.'s 6.000% senior notes due 2026 and Sunoco's 6.000% senior notes due 2027. Before redeeming the 2027 notes, Sunoco may use proceeds to repay outstanding borrowings under its revolving credit facility.

The notes have not been registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons in transactions outside the United States under Regulation S.

Sunoco operates energy infrastructure and fuel distribution across 32 countries and territories in North America, the Greater Caribbean, and Europe. The company maintains approximately 14,000 miles of pipeline and over 160 terminals, distributing over 15 billion gallons annually to approximately 11,000 retail locations.

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