NuStar Energy redeems 2.65 million convertible preferred units

By Wendy Van Sickle

Columbus, Ohio, Aug. 1 – NuStar Energy LP redeemed 2.56 million series D cumulative convertible preferred units on Monday at a redemption price of $32.18 per unit, according to an 8-K filing with the Securities and Exchange Commission.

The redemption was mostly funded with proceeds of NuStar Logistics, LP’s revolving credit facility with the remainder funded by cash on hand.

Following the redemption, 8,286,650 of the preferred units remain outstanding.

NuStar is a San Antonio-based limited partnership and independent liquids terminal and pipeline operator.

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