Sunoco LP has announced a private offering of senior notes in order to repay a portion of a recently entered loan.
Sunoco LP is privately offering $500 million of senior notes, which will be co-issued by Sunoco Finance Corp., a wholly-owned direct subsidiary of Sunoco. The senior notes are due 2021.
Sunoco intends to use the net proceeds from the offering to repay a portion of the Term Loan A, which was entered into to finance a portion of the cash consideration for the acquisition of the remaining 68.42% interest in Sunoco LLC and 100% interest in Sunoco Retail LLC, the legacy Sunoco convenience store business.
The offering of the Notes has not been registered under the Securities Act of 1933, as amended, or any state securities laws and, unless so registered, the Notes may not be offered or sold in the U.S. 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.
This press 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.