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.

item 1.01 item 5.03 item 2.03 item 3.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Sunoco LP: Amended and restated partnership agreement to establish Series A Preferred Units (effective 2025-09-18).

Change: bylaw amendment
Effective: 2025-09-18

Exact text from the filing

On September 18, 2025, in connection with the issuance of an aggregate 1,500,000 of the Series A Preferred Units, Sunoco GP LLC, the general partner of the Partnership (the “ General Partner ”), amended and restated the Partnership’s Second Amended and Restated Agreement of Limited Partnership, dated as of February 12, 2025 (as amended and restated, the “ Third Amended and Restated LPA ”), to establish the rights and obligations of the Series A Preferred Units.

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3 governance changes filed in the last 30 days. Browse all governance changes →

Sunoco LP filing history →

Source: SEC EDGAR

accession 0001193125-25-207487

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