Sunoco LP has priced an upsized offering of senior notes amounting to US$1.2 billion.
The largest independent fuel distributor in the Americas priced the notes due 2031 at 5.375 per cent and the senior notes due 2034 at 5.625 per cent.
The offering was upsized from a previous aggregate amount of US$1 billion.
The sale of notes is expected to settle on March 9.
Sunoco plans to use the proceeds to redeem in full NuStar Logistics’ 6 per cent senior notes due 2026 and Sunoco’s 6 per cent notes due 2027, with the remaining proceeds to be used for general partnership purposes.
Sunoco operates across 32 countries and territories in North America, the Greater Caribbean, and Europe.
The company’s midstream operations include an extensive network of approximately 22,000 kilometres of pipeline and over 160 terminals.
Sunoco’s fuel distribution operations distribute over 15 billion gallons annually to approximately 11,000 Sunoco and partner-branded retail locations, as well as independent dealers and commercial customers.