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

2 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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