SAN ANTONIO--(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 $550 million aggregate principal amount of 5.625% senior notes due April 28, 2027. The senior notes were priced at 100% of par at a yield to maturity of 5.625%. The settlement date for the offering is expected to be April 28, 2017, 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. NuStar Energy currently intends to use the net proceeds from the offering to fund a portion of the purchase price for NuStar Energy’s previously announced acquisition of Navigator Energy Services, LLC and to pay related fees and expenses. Pending such use, NuStar Energy intends to repay outstanding indebtedness, including borrowings under its revolving credit facility.
Mizuho Securities USA LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. are acting as book-running managers for the offering. BBVA Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Comerica Securities, Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc. are acting as co-managers. A copy of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Mizuho Securities USA LLC, 320 Park Avenue, 12th Floor, New York, NY 10022, Attention: Debt Capital Markets, Telephone: 1-866-271-7403, Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-888-603-5847, Email: [email protected], J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204, Email: [email protected] and MUFG Securities Americas Inc., Attention: Capital Markets Group, 1221 Avenue of the Americas, 6th Floor, New York, New York 10020, Telephone: 1-877-649-6848, Email: [email protected]. 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 8,700 miles of pipeline and 79 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. NuStar Energy’s combined system has approximately 95 million barrels of storage capacity, and NuStar Energy has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, and the United Kingdom.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding future events, including the size, timing and results of the offering and the consummation of the acquisition. 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 2016 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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