Sunoco LP (NYSE: SUN) has recently announced a private offering of senior notes due 2031 in an aggregate principal amount of $500 million and senior notes due 2034 in an aggregate principal amount of $500 million. The partnership plans to use the net proceeds from the offering, along with borrowings under its revolving credit facility, to redeem in full Nustar Logistics, L.P.'s 6.000% senior notes due 2026 and Sunoco's 6.000% senior notes due 2027. Prior to the redemption of the Sunoco 2027 notes, Sunoco may use the net proceeds from this offering to repay outstanding borrowings under its revolving credit facility.
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. The partnership's midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 160 terminals. These operations complement Sunoco's fuel distribution operations, which distribute over 15 billion gallons annually to approximately 11,000 Sunoco and partner-branded retail locations, as well as independent dealers and commercial customers. Sunoco's general partner is owned by Energy Transfer LP (NYSE: ET). As a result of these announcements, the company's shares have moved 0.1% on the market, and are now trading at a price of $57.66. Check out the company's full 8-K submission here.
