Sunoco begins private offering of senior notes

Sunoco LP (NYSE: SUN) has begun a private offering of $800 million of senior notes due 2023. Sunoco Finance Corp., a wholly owned direct subsidiary of Sunoco, will serve as co-issuer of the notes.

Sunoco intends to use the net proceeds from the offering to fund the cash consideration for its acquisition of a 31.58% membership interest in Sunoco LLC from a wholly owned subsidiary of Energy Transfer Partners LP (NYSE: ETP) and to repay outstanding borrowings under its senior secured revolving credit facility.

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