Sunoco to repay revolver borrowings with funds from preferred units

By Marisa Wong

Morgantown, W.Va., March 31 – Sunoco LP plans to repay borrowings under its revolving credit facility using proceeds from a private placement of preferred units.

The company raised $300 million from its private placement of series A preferred units on Thursday, according to an 8-K filed Friday with the Securities and Exchange Commission.

Sunoco is a Houston-based wholesale distributor of motor fuels, retailer of motor fuels and operator of convenience stores.

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