Sunoco Announces Private Offering Of $1500 Mln Of Senior Notes

(RTTNews) - Sunoco LP (SUN), a fuel distributer, on Tuesday announced a private offering of senior notes of $750 million due 2029 and senior notes of $750 million due 2032.

Sunoco intends to use the net proceeds from the offering to repay debt of NuStar Energy L.P., a Delaware limited partnership, in connection with a pending merger between Sunoco and NuStar.

The net proceeds will be used to fund the redemption of NuStar's preferred units in connection with the NuStar Merger and to pay offering fees and expenses.

This offering is not contingent on the completion of the NuStar merger, the company said.