Sunoco Logistics Partners prices $1B of senior notes

Sunoco Logistics Partners LP (NYSE: SXL) has priced $600 million aggregate principal amount of 4.40% senior notes due 2021 and $400 million aggregate principal amount of 5.95% senior notes due 2025 of its wholly owned subsidiary, Sunoco Logistics Partners Operations LP (the Operating Partnership). The sale of the senior notes is expected to settle on Nov. 17.

The Operating Partnership intends to use the net proceeds of $991 million to repay outstanding borrowings under its $2.50 billion revolving credit facility and for general partnership purposes.

The 4.40% senior notes due 2021, maturing on April 1, 2021, were sold to the public at 99.905% of par value, and the 5.95% senior notes due 2025, maturing on Dec. 1, 2025, were sold to the public at 99.735% of par value.

US Bancorp Investments Inc., Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities USA Inc., BBVA Securities Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC, BNP Paribas Securities Corp., DNB Markets Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America Inc. are joint book-running managers for the senior notes offering. Comerica Securities, Inc. and RBS Securities Inc. are co-managers for the senior notes offering.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...