DALLAS, Nov. 9, 2020 /PRNewswire/ -- Sunoco LP
(NYSE: SUN) ("Sunoco") today announced a private offering (the
"offering") of senior notes due 2029 (the "notes") in an aggregate
principal amount of $500 million.
Sunoco Finance Corp., a wholly owned direct subsidiary of Sunoco,
will serve as co-issuer of the notes.
Sunoco intends to use the net proceeds from the offering and
cash on hand to fund the separately announced tender offer for a
portion of its outstanding 4.875% senior notes due 2023 (the "2023
notes").
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, nor does it
constitute a notice of redemption under the optional redemption
provisions of the indenture governing the 2023 notes.
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 30
states as well as refined product transportation and terminalling
assets. SUN's general partner is owned by Energy Transfer
Operating, L.P., a wholly owned subsidiary of 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 and the concurrent tender offer. 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. In addition to the risks and uncertainties
previously disclosed, Sunoco has also been, or may in the future
be, impacted by new or heightened risks related to the COVID-19
pandemic and the recent decline in commodity prices, and cannot
predict the length and ultimate impact of those risks. Sunoco
undertakes no obligation to update or revise any forward-looking
statement to reflect new information or events.
The information contained in this press release is available on
our 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 Sunoco LP's distributions to non-U.S. investors as
being attributable to income that is effectively connected with a
United States trade or business.
Accordingly, Sunoco LP's distributions to non-U.S. investors are
subject to federal income tax withholding at the highest applicable
effective tax rate.
Contacts
Investors:
Scott Grischow, Vice President –
Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
Derek Rabe, CFA, Manager –
Investor Relations, Strategy and Growth
(214) 840-5553, derek.rabe@sunoco.com
Media:
Alexis Daniel, Manager –
Communications
(214) 981-0739, alexis.daniel@sunoco.com
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SOURCE Sunoco LP