SAN ANTONIO--(BUSINESS WIRE)--Apr. 25, 2017--
NuStar Energy L.P. (NYSE:NS) (“NuStar” or the “Partnership”) announced
today that it plans to conduct an underwritten public offering of Series
B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
(the “Preferred Units”) at a price of $25.00 per unit pursuant to an
effective shelf registration statement previously filed with the
Securities and Exchange Commission (“SEC”). The Partnership currently
intends to use the net proceeds from the offering, including any
exercise of the underwriters’ option to purchase additional Preferred
Units, to fund a portion of the purchase price and related fees and
expenses for the Partnership’s previously announced acquisition of
Navigator Energy Services, LLC. Pending such use, the Partnership
intends to hold the net proceeds of this offering as cash.
Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. LLC and UBS Securities LLC are acting
as joint booking-running managers for the offering. A copy of the
prospectus supplement and accompanying base prospectus relating to this
offering may be obtained from Wells Fargo Securities, LLC, 608 2nd
Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attention: WFS
Customer Service, Telephone: (800) 645-3751; Merrill Lynch, Pierce,
Fenner & Smith Incorporated, 200 North College Street, NC1-004-03-43,
Charlotte, North Carolina 28255, Attention: Prospectus Department,
Telephone: (800) 294-1322, Email: dg.prospectus_requests@baml.com;
Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New
York 10014, Attention: Prospectus Department; and UBS Securities LLC,
1285 Avenue of the Americas, New York, New York 10019, Attention:
Prospectus Specialist, Telephone: (888) 827-7275. 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 L.P., 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 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’s combined system has approximately 95 million barrels of storage
capacity, and NuStar 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’s beliefs as well as assumptions made by and information
currently available to NuStar. These statements reflect NuStar’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’s 2016 Annual Report on Form 10-K
and subsequent filings with the SEC. NuStar 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: http://www.businesswire.com/news/home/20170425005949/en/
Source: NuStar Energy L.P.
NuStar Energy, L.P., San Antonio
Investors, Chris Russell,
Treasurer and Vice President Investor Relations
Investor Relations:
210-918-3507
or
Media, Mary Rose Brown, Executive Vice
President and Chief Administrative Officer,
Corporate
Communications: 210-918-2314
website: http://www.nustarenergy.com