Sunoco Logistics Partners L.P. Announces Pricing of $1 Billion of Senior Notes
Sunoco Logistics Partners L.P. (NYSE:SXL) today announced the pricing of
$600 million aggregate principal amount of 4.40% senior notes due 2021
and $400 million aggregate principal amount of 5.95% senior notes due
2025 of its wholly owned subsidiary, Sunoco Logistics Partners
Operations L.P. (the “Operating Partnership”). The sale of the senior
notes is expected to settle on November 17, 2015, subject to customary
closing conditions. The Operating Partnership intends to use the net
proceeds of approximately $991 million to repay outstanding borrowings
under its $2.50 billion revolving credit facility and for general
partnership purposes.
The 4.40% senior notes due 2021, maturing on April 1, 2021, were sold to
the public at 99.905% of par value, and the 5.95% senior notes due 2025,
maturing on December 1, 2025, were sold to the public at 99.735% of par
value.
U.S. Bancorp Investments, Inc., Mitsubishi UFJ Securities (USA), Inc.,
Mizuho Securities USA Inc., BBVA Securities Inc., PNC Capital Markets
LLC, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC, BNP
Paribas Securities Corp., DNB Markets, Inc., Scotia Capital (USA) Inc.
and SMBC Nikko Securities America, Inc. are joint book-running managers
for the senior notes offering. Comerica Securities, Inc. and RBS
Securities Inc. are co-managers for the senior notes offering. The
offering is being made by means of a prospectus and a related prospectus
supplement, copies of which may be obtained from the following addresses:
U.S. Bancorp Investments, Inc.
Attn: High Grade Syndicate
214
North Tryon Street
Charlotte, NC 28202
(tel: (877) 558-2607)
Mitsubishi UFJ Securities (USA), Inc.
Attn: Capital Markets
Group
1221 Avenue of the Americas, 6th Floor
New York, New
York 10020
(tel: (877) 649-6848)
Mizuho Securities USA Inc.
Attn: Debt Capital Markets
320
Park Avenue
New York, New York 10022
(tel: (212) 205-7543)
You may also obtain these documents for free when they are available by
visiting EDGAR on the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The offering may be made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section 10 of
the Securities Act of 1933, as amended. The offering is made pursuant to
an effective shelf registration statement and prospectus filed by SXL
with the SEC.
Sunoco Logistics Partners L.P. (NYSE:SXL), headquartered in Newtown
Square, Pennsylvania, is a master limited partnership that owns and
operates a logistics business consisting of a geographically diverse
portfolio of complementary crude oil, refined products, and natural gas
liquids pipelines, terminalling and acquisition and marketing assets
which are used to facilitate the purchase and sale of crude oil, refined
products, and natural gas liquids. SXL’s general partner is a
consolidated subsidiary of Energy Transfer Partners, L.P. (NYSE: ETP).
Statements about the offering may be forward-looking statements. These
forward-looking statements rely on a number of assumptions concerning
future events and are subject to a number of uncertainties and factors,
many of which are outside the control of SXL, and a variety of risks
that could cause results to differ materially from those expected by
management of SXL. These risks are described in SXL’s Annual Report on
Form 10-K for the year ended December 31, 2014, as well as SXL’s
subsequent SEC filings. SXL undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151112006792/en/
Copyright Business Wire 2015