HOUSTON, March 27, 2015 /PRNewswire/ -- Sunoco LP (NYSE:
SUN) ("Sunoco") today announced that it has priced at par a private
offering of $800 million in aggregate
principal amount of 6.375% Senior Notes due 2023 (the "notes").
Sunoco Finance Corp., a wholly owned direct subsidiary of Sunoco,
will serve as co-issuer of the notes. The sale of the notes is
expected to settle on April 1, 2015,
subject to the satisfaction of customary closing conditions.
Sunoco intends to use the net proceeds from the offering to fund
the cash consideration for its acquisition of a 31.58% membership
interest in Sunoco, LLC from a wholly owned subsidiary of Energy
Transfer Partners, L.P. (NYSE: ETP) and repay outstanding
borrowings under its senior secured revolving credit facility.
The offering of the notes has not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws and, unless so registered, the notes may not
be offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About Sunoco LP
Sunoco LP is a master limited partnership (MLP) that primarily
distributes motor fuel to convenience stores, independent dealers,
commercial customers and distributors. Sunoco also operates more
than 150 convenience stores and retail fuel sites. Sunoco's
general partner is a wholly owned subsidiary of ETP. While
primarily engaged in natural gas, natural gas liquids, crude oil
and refined products transportation, ETP also operates a retail
business with a network of more than 5,500 company or independently
operated retail fuel outlets and convenience stores through its
wholly owned subsidiaries, Sunoco, Inc. and Stripes LLC.
Cautionary Statement Relevant to Forward-Looking
Information
This press release includes forward-looking statements regarding
future events. These forward-looking statements are based on
Sunoco's current plans and expectations and involve a numbers of
risks and uncertainties that could cause actual results and events
to vary materially from the results and events anticipated or
implied by such forward-looking statements. For a further
discussion of these risks and uncertainties, please refer to the
"Risk Factors" section of Sunoco's most recently filed annual
report on Form 10-K and in other filings made by Sunoco with the
Securities and Exchange Commission. While Sunoco may elect to
update these forward-looking statements at some point in the
future, it specifically disclaims any obligation to do so, even if
new information becomes available in the future.
Contacts
Investors:
Scott Grischow
Director – Investor Relations and Treasury
(361) 884-2463, scott.grischow@susser.com
Anne Pearson
Dennard-Lascar Associates
(210) 408-6321, apearson@dennardlascar.com
Media:
Jeff Shields, Communications
Manager
(215) 977-6056, jpshields@sunocoinc.com
Jessica Davila-Burnett, Public
Relations Director|
(361) 654-4882, jessica.davila-burnett@susser.com
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SOURCE Sunoco LP