DALLAS, July 27, 2018 /PRNewswire/ -- Sunoco LP
(NYSE: SUN) ("Sunoco") today announced that the Board of Directors
of its general partner declared a quarterly distribution for the
second quarter of 2018 of $0.8255 per
common unit, which corresponds to $3.3020 per common unit on an annualized
basis. The distribution will be paid on August 15, 2018 to common unitholders of record
on August 7, 2018.
Sunoco today also announced it has entered into an amended and
restated revolving credit agreement (the "Credit Facility") with a
syndicate of lenders led by Bank of America Merrill Lynch.
The Credit Facility size remains at $1.5
billion, and includes an accordion feature that provides
flexibility to increase the Credit Facility up to $750 million, subject to additional lender
commitments.
The Credit Facility matures in July 2023. Outstanding
borrowings under the Credit Facility bear interest, at Sunoco's
option, at either the base rate plus a margin ranging from 0.25% to
1.25% or LIBOR plus a margin ranging from 1.25% to 2.25%.
Sunoco will release its second quarter 2018 financial and
operating results after the market closes on Wednesday, August 8. In conjunction with the news
release, management will hold a conference call on Thursday, August 9 at 9:30
a.m. Central Time (10:30 a.m. Eastern
Time) to discuss Sunoco's results.
By
Phone:
|
Dial 877-407-6184
(toll free) or 201-389-0877 at least 10 minutes before the call. A
replay will be available through August 16, 2018 by dialing
877-660-6853 (toll free) or 201-612-7415 and using the conference
ID 13681730#.
|
|
|
By
Webcast:
|
Connect to the
webcast via the Events and Presentations pages of Sunoco's Investor
Relations website at www.SunocoLP.com. Please log in at least 10
minutes in advance to register and download any necessary
software. A replay will be available shortly after the
call.
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About Sunoco LP
Sunoco LP (NYSE: SUN) is a master limited partnership that
distributes motor fuel to approximately 9,200 convenience stores,
independent dealers, commercial customers and distributors located
in more than 30 states. SUN's general partner is owned by Energy
Transfer Equity, L.P. (NYSE: ETE).
The information contained in this press release is available on
the Sunoco LP website at www.SunocoLP.com.
Qualified Notice
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat
100 percent of SUN's distributions to non-U.S. investors as being
attributable to income that is effectively connected with a
United States trade or business.
Accordingly, SUN's distributions to non-U.S. investors are subject
to federal income tax withholding at the highest applicable
effective tax rate.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Forward-looking statements may be
identified by the use of the words "anticipates," "expects,"
"intends," "plans," "should," "could," "would," "may," "will,"
"believes," "estimates," "potential," "opportunity,"
"value-creating," "designed," "predict," "seek," "ongoing,"
"increases" or "continue" and variations or similar expressions.
Such forward-looking statements are subject to a variety of known
and unknown risks, uncertainties, and other factors that are
difficult to predict and many of which are beyond management's
control. An extensive list of factors that can affect future
results are discussed in Annual Reports on Form 10-K
filed by SUN, ETE and ETP and other documents filed from time to
time with the Securities and Exchange Commission. The
partnerships undertake no obligation to update or revise any
forward-looking statement to reflect new information or events.
Contacts
Sunoco LP
Scott Grischow
Senior Director – Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
Derek Rabe, CFA
Senior Analyst – Investor Relations and Finance
(214) 840-5553, derek.rabe@sunoco.com
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SOURCE Sunoco LP