Sunoco Logistics Partners LP (NYSE: SXL) has priced its public offering of 7,700,000 common units at $48.46 per unit. The underwriters of this common unit offering have been granted an option to purchase up to 1,155,000 additional common units.
The Partnership intends to use the net proceeds from this offering to repay outstanding borrowings under its $1.5 billion revolving credit facility and for general partnership purposes.
Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., Jefferies, JP Morgan, Morgan Stanley, UBS Investment Bank, and Wells Fargo Securities are acting as the joint book-running managers. Baird and Stifel are acting as co-managers for the common unit offering.