Sunoco LP Announces Successful Exchange Offer Results

By Ahmed Jameison • Tuesday, November 11 15:37 • Permanent Link

Sunoco LP has announced the expiration and final results of its private exchange offers and consent solicitations for outstanding notes of Parkland Corporation. The private exchange offers of outstanding Canadian dollar denominated notes (PKI CAD notes) and U.S. dollar denominated notes (PKI USD notes) previously issued by Parkland Corporation for new notes to be issued by Sunoco and cash have expired.

The results show that C$1,474,777,000 in aggregate principal amount of the PKI CAD notes, representing approximately 92.2% of the total outstanding principal amount, and US$2,579,839,000 in aggregate principal amount of the PKI USD notes, representing approximately 99.2% of the total outstanding principal amount, have been validly tendered and not validly withdrawn.

The private exchange offers and consent solicitations were made pursuant to the terms and conditions set forth in the confidential exchange offer memoranda. The settlement date of the exchange offers and consent solicitations is expected to occur on November 7, 2025.

As a result of Sunoco's acquisition of all the issued and outstanding common shares of Parkland, Parkland is now a wholly owned subsidiary of Sunoco. Parkland is expected to enter into supplemental indentures to the PKI indentures implementing certain proposed amendments.

Each series of new notes will have substantially identical interest rates, interest payment dates, maturity dates, and redemption terms as the corresponding series of PKI notes. The first interest payment on any new notes will include the accrued and unpaid interest on the PKI notes tendered in exchange therefor.

Sunoco LP is a leading energy infrastructure and fuel distribution master limited partnership operating across 32 countries and territories in North America, the greater Caribbean, and Europe. Sunoco's midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 160 terminals. Today the company's shares have moved -1.82% to a price of $50.345. For the full picture, make sure to review Sunoco LP's 8-K report.

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