Sunoco LP announced the pricing of an upsized private offering of $1 billion aggregate principal amount of 6.250% senior notes due 2033. The offering was initially set at $750 million but was increased due to demand.
The notes were priced at 100% of their face value, with the sale expected to settle on March 31, 2025. Sunoco intends to use the net proceeds from this offering to repay existing indebtedness.
Specifically, the proceeds will be used to redeem in full NuStar Logistics, L.P.'s 5.750% senior notes due 2025 and to repay a portion of outstanding borrowings under Sunoco's revolving credit facility. This refinancing strengthens Sunoco's balance sheet, which is beneficial for Energy Transfer LP as a significant unitholder.
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