Sunoco raises ~$3.36B in notes & preferred offering for Parkland acquisition

Sunoco LP

• Completed $1.0B 5.625% notes due 2031 and $900M 5.875% notes due 2034; net proceeds ~$1.88B.
• Issued 1.5M Series A Preferred Units at 7.875% initial rate, $1,000 liquidation preference; net proceeds ~$1.48B.
• Proceeds to fund cash consideration for pending Parkland acquisition; any excess for general corporate purposes.
• Notes and preferred units subject to special mandatory redemption if Parkland acquisition not closed by May 5, 2026.
• Prior debt financing commitments from Barclays, RBC, and others terminated upon issuance.