- Sunoco (SUN) said on Thursday it plans to offer $1 billion in senior notes in a private placement, comprising $500 million of notes due 2031 and $500 million of notes due 2034.
-
The net proceeds from the offering, along with borrowings under its revolving credit facility, will be used to redeem in full NuStar Logistics 6.000% senior notes due 2026 and its own 6.000% senior notes due 2027.
- Before redeeming the 2027 notes, Sunoco may use the proceeds to repay outstanding borrowings under its revolving credit facility.
- The notes have not been registered under the U.S. Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, the company said.
- SUN -0.01% premarket to $61.57.
- Source: Press Release
Sunoco LP to offer $1 billion in senior notes due 2031 and 2034
