Sunoco Logistics to pay down revolver with proceeds from note offering

By Wendy Van Sickle

Columbus, Ohio, Nov. 12 – Sunoco Logistics Partners Operations LP plans to repay outstanding borrowings under its $2.5 billion revolving credit facility with some proceeds from a new offering of senior notes due 2021 and 2025, according to a 424B3 filing with the Securities and Exchange Commission.

As of Wednesday, $1.5 billion was outstanding under the revolver at a weighted average interest rate of 1.24%.

The facility matures in March 2020. Borrowings have been used for general partnership purposes, including the company’s capital expansion plan.

Other proceeds will also be used for general partnership purposes.

The crude oil transportation, storage and sales company is based in Philadelphia.

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