NuStar preferred units, debt will be refinanced in Sunoco purchase

Chicago, Jan. 23 – NuStar Energy LP’s debt will be refinanced through the acquisition of the company by Sunoco LP, according to an 8-K filing with the Securities and Exchange Commission.

Sunoco will use new a $1.6 billion 364-day bridge term loan to refinance NuStar’s series A, B and C preferred units, subordinated notes, revolving credit facility and receivables financing agreement.

The all-stock acquisition valued at $7.3 billion is expected to close in the second quarter of 2024.

Sunoco is a Dallas-based master limited partnership with core operations that include the distribution of motor fuel. NuStar is an independent liquids terminal and pipeline operator.

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