Sunoco LP Upsizes Private Offering to $1 Billion

By Tamara Parker • Friday, March 21 13:31 • Permanent Link

Sunoco LP (NYSE: SUN) has announced the pricing of an upsized private offering of 6.250% senior notes due 2033 in an aggregate principal amount of $1 billion. The initial offering size was $750 million, indicating an increase of $250 million in the offering size.

The net proceeds from the offering are intended to be used to repay indebtedness, including the redemption in full of NuStar Logistics, L.P.'s 5.750% senior notes due 2025 and to repay a portion of the outstanding borrowings under Sunoco’s revolving credit facility.

Sunoco LP, which operates in over 40 U.S. states, Puerto Rico, Europe, and Mexico, has an extensive network of approximately 14,000 miles of pipeline and over 100 terminals for midstream operations. The company's general partner is owned by Energy Transfer LP (NYSE: ET). Today the company's shares have moved -1.2% to a price of $57.16. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.