Sunoco Logistics Partners LP priced $550 million of 3.9% senior notes due 2026 of its wholly owned subsidiary, Sunoco Logistics Partners Operations LP, the company said July 7.
The notes mature on July 15, 2026. Their sale is expected to settle on July 12, 2016.
Net proceeds of about $544 million will repay outstanding borrowings under the $2.5 billion revolving credit facility, and will also support general partnership purposes.
Mizuho Securities USA Inc., BNP Paribas Securities Corp., SunTrust Robinson Humphrey Inc., Wells Fargo Securities LLC, BBVA Securities Inc., Citizens Capital Markets Inc., Deutsche Bank Securities Inc., SMBC Nikko Securities America Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are joint book-running managers. Comerica Securities Inc. and DNB Markets Inc. are co-managers.
Sunoco Logistics Partners LP is based in Newtown Square, Pa.
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