Sunoco LP (SUN) Assigned 'BB' Rating by S&P; Outlook Stable

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Go back to Sunoco LP (SUN) Assigned 'BB' Rating by S&P; Outlook Stable

Sunoco LP Announces Private Offering of Senior Notes Due 2023

March 23, 2015 9:27 AM EDT

HOUSTON, March 23, 2015 /PRNewswire/ -- Sunoco LP (NYSE: SUN) ("Sunoco") today announced a private offering of $800 million of senior notes due 2023 (the "notes"). Sunoco Finance Corp., a wholly owned direct subsidiary of Sunoco, will serve as co-issuer of the notes. Sunoco intends to use the net proceeds from the offering to fund the cash consideration for its acquisition of a 31.58% membership interest in Sunoco, LLC (the "Acquisition") from a wholly owned subsidiary of Energy Transfer Partners, L.P. (NYSE: ETP) and repay outstanding borrowings under its... More

Sunoco LP and Energy Transfer Partners Announce $816 Million Dropdown of Interest in Fuel Distribution Business

March 23, 2015 9:27 AM EDT

HOUSTON and DALLAS, March 23, 2015 /PRNewswire/ -- Sunoco LP (NYSE: SUN) and Energy Transfer Partners, L.P. (NYSE: ETP) announced today the second dropdown of a portion of ETP's retail business to SUN. 

SUN has agreed to acquire from ETP Retail Holdings, an affiliate of ETP, a 31.58 percent equity interest in Sunoco, LLC, which distributes approximately 5.3 billion gallons per year of motor fuel to customers in the east, midwest and southeast regions of the U.S. The transaction is valued at approximately $816 million. ... More