NuStar Energy L.P. Announces Pricing of Offering of Senior Notes
May 16 2019 - 5:16PM
Business Wire
NuStar Logistics, L.P., a wholly owned operating subsidiary of
NuStar Energy L.P. (NYSE: NS) (“NuStar Energy”), today announced
that it has priced $500 million aggregate principal amount of 6.00%
senior notes due June 1, 2026. The senior notes were priced at 100%
of par at a yield to maturity of 6.00%. The settlement date for the
offering is expected to be May 22, 2019, subject to customary
closing conditions. The notes will be fully and unconditionally
guaranteed by NuStar Energy, as parent guarantor, and NuStar
Pipeline Operating Partnership L.P., a wholly owned operating
subsidiary of NuStar Energy, as affiliate guarantor. The net
proceeds from the offering are expected to be used for general
partnership purposes, including the funding of future capital
expenditures and to repay amounts outstanding under NuStar
Logistics, L.P.’s revolving credit agreement.
RBC Capital Markets, LLC, Mizuho Securities USA LLC, MUFG
Securities Americas Inc., SunTrust Robinson Humphrey, Inc.,
Barclays Capital Inc., BBVA Securities Inc., DNB Markets, Inc., PNC
Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko
Securities America, Inc., TD Securities (USA) LLC and U.S. Bancorp
Investments, Inc. are acting book-running managers for the
offering. BB&T Capital Markets, a division of BB&T
Securities, LLC, BMO Capital Markets Corp. and Comerica Securities,
Inc. are acting as co-managers for the offering. A copy of the
prospectus supplement and accompanying base prospectus relating to
this offering may be obtained from RBC Capital Markets, LLC, 200
Vesey Street, 8th Floor, New York, New York 10281, Attention:
Leveraged Capital Markets; or by telephone at 1-877-280-1299. You
may also obtain these documents for free when they are available by
visiting the SEC’s website at www.sec.gov.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The offering may
be made only by means of a prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
NuStar Energy, a publicly traded master limited partnership
based in San Antonio, is one of the largest independent liquids
terminal and pipeline operators in the nation. NuStar Energy
currently has approximately 9,800 miles of pipeline and 75 terminal
and storage facilities that store and distribute crude oil, refined
products and specialty liquids. NuStar Energy’s combined system has
more than 88 million barrels of storage capacity, and NuStar Energy
has operations in the United States, Canada, Mexico and St.
Eustatius in the Caribbean.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding
future events, including the expected closing of the offering and
the expected use of proceeds from the offering. All forward-looking
statements are based on NuStar Energy’s beliefs as well as
assumptions made by and information currently available to NuStar
Energy. These statements reflect NuStar Energy’s current views with
respect to future events and are subject to various risks,
uncertainties and assumptions. These risks, uncertainties and
assumptions are discussed in NuStar Energy’s 2018 annual report on
Form 10-K and subsequent filings with the SEC. NuStar Energy
undertakes no obligation to update or revise any forward-looking
statement except as may be required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190516006102/en/
NuStar Energy, L.P., San AntonioInvestors, Tim Delagarza,
Manager, Investor RelationsInvestor Relations: 210-918-INVR
(4687)orMedia, Mary Rose Brown, Executive Vice President and Chief
Administrative Officer,Corporate Communications:
210-918-2314website: http://www.nustarenergy.com
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