NuStar to pay down revolver via term loan from Oaktree funds

By Marisa Wong

Los Angeles, April 20 – NuStar Energy LP said it plans to pay down its revolving credit facility using proceeds from a new term loan.

The company announced on Monday that it entered into a $750 million unsecured term loan agreement with funds managed by Oaktree Capital Management, LP.

The company also plans to use proceeds to address other near-term debt maturities.

NuStar is a liquids terminal and pipeline operator based in San Antonio.

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