SAN ANTONIO--(BUSINESS WIRE)--May 16, 2019--
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190516006102/en/
Source: NuStar Energy L.P.
NuStar Energy, L.P., San Antonio
Investors, Tim Delagarza, Manager,
Investor Relations: 210-918-INVR (4687)
Mary Rose Brown, Executive Vice President and Chief Administrative
Corporate Communications: 210-918-2314