---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-207487"
form_type: "8-K"
ticker: "SUN"
cik: "0001552275"
company_name: "Sunoco LP"
filed_at: "2025-09-18T23:59:59+00:00"
generated_at: "2026-05-17T06:14:57.010695+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-207487
- form_type: 8-K
- ticker: SUN
- cik: 0001552275
- company_name: Sunoco LP
- filed_at: 2025-09-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.03, 2.03, 3.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1552275/000119312525207487/0001193125-25-207487-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1552275/000119312525207487/d936183d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-207487
- JSON: https://secwatch.observer/filing/0001193125-25-207487.json
- Plain text: https://secwatch.observer/filing/0001193125-25-207487.txt

## Key facts
- Governance Changes
  Sunoco LP: Amended and restated partnership agreement to establish Series A Preferred Units (effective 2025-09-18).
  - Change: bylaw amendment
  - Effective: 2025-09-18
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552275/000119312525207487/0001193125-25-207487-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.