Sunoco LP issues $500M of 7.000% senior notes due 2028 to repay revolver

Sunoco LP

Issued $500M aggregate principal of 7.000% senior notes due September 15, 2028.
Net proceeds of ~$494M used to repay outstanding borrowings under revolving credit facility.
Interest payable semi-annually on March 15 and September 15, beginning March 15, 2024.
Notes are senior unsecured and guaranteed by certain existing and future subsidiaries.
Redeemable at par plus make-whole premium before September 15, 2025; thereafter at specified prices.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Sunoco LP entered into Indenture dated September 20, 2023 with U.S. Bank Trust Company, National Association valued at $500,000,000 aggregate principal amount of 7.000% senior notes due 2028 (effective 2023-09-20).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $500,000,000 aggregate principal amount of 7.000% senior notes due 2028
Effective: 2023-09-20

Exact text from the filing

On September 20, 2023, Sunoco LP (NYSE: SUN) (the “Partnership”) and Sunoco Finance Corp. (“Finance Corp.” and, together with the Partnership, the “Issuers”) completed a private offering to eligible purchasers (the “Notes Offering”) of $500,000,000 aggregate principal amount of 7.000% senior notes due 2028 (the “Notes”), along with the related guarantees of the Notes.

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Sunoco LP filing history →

Source: SEC EDGAR

accession 0001193125-23-238575

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