DALLAS, Sept. 13,
2023 /PRNewswire/ -- Sunoco LP (NYSE: SUN) ("Sunoco")
today announced that it has priced at 100% a private offering (the
"offering") of $500 million in
aggregate principal amount of 7.000% senior notes due 2028 (the
"notes"). Sunoco Finance Corp., a wholly owned direct subsidiary of
Sunoco, will serve as co-issuer of the notes. The sale of the notes
is expected to settle on September 20,
2023, subject to the satisfaction of customary closing
conditions.
Sunoco intends to use the net proceeds from the offering to
repay a portion of the outstanding borrowings under its existing
$1.5 billion revolving credit
facility.
The offering of the notes has not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws and, unless so registered, the notes may not
be offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. Sunoco plans
to offer and sell the notes only to persons reasonably believed to
be qualified institutional buyers pursuant to Rule 144A under the
Securities Act and to non-U.S. persons in transactions outside
the United States pursuant to
Regulation S under the Securities Act.
This news release is neither an offer to sell nor a solicitation
of an offer to buy the notes or any other securities and shall not
constitute an offer to sell or a solicitation of an offer to buy,
or a sale of, the notes or any other securities in any jurisdiction
in which such offer, solicitation or sale is unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master limited partnership with core
operations that include the distribution of motor fuel to
approximately 10,000 convenience stores, independent dealers,
commercial customers and distributors located in more than 40 U.S.
states and territories as well as refined product transportation
and terminalling assets. Sunoco's general partner is owned by
Energy Transfer LP (NYSE: ET).
Forward-Looking
Statements
This news release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law, including without limitation statements
regarding the offering. 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 Sunoco's Annual Report on Form 10-K
and other documents filed from time to time with the Securities and
Exchange Commission. Sunoco undertakes no obligation to update or
revise any forward-looking statement to reflect new information or
events.
Contacts
Scott Grischow
Treasurer, Sr. Vice President – Investor Relations and Mergers
& Acquisitions
(214) 840-5660, scott.grischow@sunoco.com
Matthew Kobler
Sr. Manager – Investor Relations
(214) 840-5604, matthew.kobler@sunoco.com
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SOURCE Sunoco LP