Sunoco LP (SUN): debt financing — Sunoco LP issues $1.5B of senior notes to finance NuStar merger

Sunoco LP

$750M of 7.000% Senior Notes due 2029 and $750M of 7.250% Senior Notes due 2032 issued.
Net proceeds of ~$1.485M after discounts used to repay NuStar debt and redeem NuStar preferred units.
Notes subject to special mandatory redemption at 100% if NuStar merger not closed by April 22, 2025 or terminated.
Notes are senior unsecured obligations, guaranteed by current and certain future subsidiaries.
Interest payable semi-annually on May 1 and Nov 1, commencing Nov 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sunoco LP incurred senior notes of $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 with U.S. Bank Trust Company, National Association at 7.000% maturing May 1, 2029.

Instrument: senior notes
Principal: $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029
Counterparty: U.S. Bank Trust Company, National Association
Rate: 7.000%
Maturity: May 1, 2029
Event: incurrence

Exact text from the filing

On April 30, 2024, Sunoco LP (NYSE: SUN) (the “Partnership”) completed a private offering to eligible purchasers (the “Notes Offering”) of (i) $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) and (ii) $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 (the “2032 Notes”

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sunoco LP incurred senior notes of $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 with U.S. Bank Trust Company, National Association at 7.250% maturing May 1, 2032.

Instrument: senior notes
Principal: $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032
Counterparty: U.S. Bank Trust Company, National Association
Rate: 7.250%
Maturity: May 1, 2032
Event: incurrence

Exact text from the filing

On April 30, 2024, Sunoco LP (NYSE: SUN) (the “Partnership”) completed a private offering to eligible purchasers (the “Notes Offering”) of (i) $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) and (ii) $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 (the “2032 Notes”

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sunoco LP entered into Indenture with U.S. Bank Trust Company, National Association valued at $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) an (effective 2024-04-30).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) an
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024, Sunoco LP (NYSE: SUN) (the “Partnership”) completed a private offering to eligible purchasers (the “Notes Offering”) of (i) $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) and (ii) $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 (the “2032 Notes” and, collectively with the 2029 Notes, the “Notes”), along with the related guarantees of the Notes.

View on SEC.gov

317 debt financings filed in the last 30 days. Browse all debt financings →

Sunoco LP filing history →

Source: SEC EDGAR

accession 0001193125-24-125272

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