Sunoco Logistics to sell senior notes in two parts

By Aleesia Forni

Virginia Beach, Nov. 12 – Sunoco Logistics Partners Operations LP intends to sell a two-part offering of senior notes, according to a 424B3 filed with the Securities and Exchange Commission.

The sale is expected to include a tap of the company’s existing 4.25% notes due 2024, as well as an offering of notes due 2045.

The original $300 million tranche of 4.25% notes due 2024 sold at Treasuries plus 155 basis points on March 31.

Wells Fargo Securities LLC, RBC Capital Markets LLC and U.S. Bancorp Investments Inc. are the bookrunners.

The company will use net proceeds from the offering to repay outstanding borrowings under its $1.5 billion revolving credit facility and for general partnership purposes.

The notes are guaranteed by Sunoco Logistics Partners LP.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.