Sunoco Logistics Partners LP (NYSE: SXL) announced the pricing of $550 million aggregate principal amount of 3.90% senior notes due 2026 of its wholly owned subsidiary, Sunoco Logistics Partners Operations LP.
The sale of the senior notes is expected to settle on July 12, 2016, subject to customary closing conditions. The operating partnership intends to use the net proceeds of approximately $544 million to repay outstanding borrowings under its $2.50 billion revolving credit facility and for general partnership purposes.
The 3.90% senior notes due 2026, maturing on July 15, 2026, were offered to the public at 99.696% of par value.
Mizuho Securities USA Inc., BNP Paribas Securities Corp., SunTrust Robinson Humphrey Inc., Wells Fargo
Securities LLC, BBVA Securities Inc., Citizens Capital Markets Inc., Deutsche Bank Securities Inc., SMBC Nikko Securities America Inc., TD Securities (USA) LLC and US Bancorp Investments Inc. are joint book-running managers for the senior notes offering. Comerica Securities Inc. and DNB Markets Inc. are co-managers for the senior notes offering.