HOUSTON, July 15, 2015 /PRNewswire/ -- Sunoco LP
(NYSE: SUN) ("Sunoco") today announced that it has priced at 100%
an upsized private offering of $600
million in aggregate principal amount of 5.5% senior notes
due 2020 (the "notes"). This represents a $100 million increase in the original offering
amount. 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 July 20, 2015, subject to the satisfaction of
customary closing conditions. Net proceed are expected to
total $592,500,000.
Sunoco intends to use the net proceeds from the offering,
together with borrowings under its revolving credit facility, to
fund the cash consideration for its acquisition of 100% of Susser
Holdings Corporation from Energy Transfer Partners, L.P. (NYSE:
ETP).
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 (NYSE: SUN) is a master
limited partnership (MLP) that primarily distributes motor fuel to
convenience stores, independent dealers, commercial customers and
distributors. SUN also operates more than 150 convenience stores
and retail fuel sites. SUN conducts its business through wholly
owned subsidiaries, as well as through its 31.58 percent interest
in Sunoco, LLC, in partnership with an affiliate of its parent
company, Energy Transfer Partners. While primarily engaged in
natural gas, natural gas liquids, crude oil and refined products
transportation, ETP also operates a retail and fuel distribution
business through its interest in Sunoco, LLC, as well as wholly
owned subsidiaries, Sunoco, Inc. and Stripes LLC that operate
approximately 1,100 convenience stores and retail fuel sites.
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, Form 10-Q 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@sunoco.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@sunoco.com
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SOURCE Sunoco LP