Sunoco LP Announces Pricing of Upsized Private Offering of Senior Notes
Vinson & Elkins represented Sunoco LP (NYSE: SUN) (“Sunoco”) in connection with its offering of $1.0 billion in aggregate principal amount of 6.250% senior notes due 2033 pursuant to Rule 144A and Regulation S.
The offering was upsized from an initial offering size of $750 million aggregate principal amount. Sunoco intends to use the net proceeds from the offering to repay indebtedness, including by redeeming in full NuStar Logistics, L.P.’s 5.750% senior notes due 2025 and repaying a portion of the outstanding borrowings under Sunoco’s revolving credit facility. The offering was priced on March 20, 2025 and is anticipated to close on March 31, 2025.
The Vinson & Elkins corporate team was led by partners Jackson O’Maley, David Stone, and Ben Heriaud, with assistance from associates Walt Baker, Patience Li, Rachel Campbell, and Colin Ren. Also advising were partners Wendy Salinas and Ryan Carney and associates Jeff Slusher and Keleigh Carver; partner Caitlin Turner and associate Sara Johnson; and counsel Missy Spohn and associate Henry Crowell.
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