SAN ANTONIO--(BUSINESS WIRE)--Jan. 22, 2013--
NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar
Energy L.P. (NYSE:NS), announced today it has closed its previously
announced public offering of $402.5 million principal amount of 7.625%
Fixed-to-Floating Subordinated Notes due 2043, including the
underwriters’ option to purchase up to an additional $52.5 million
principal amount of Notes, which option was exercised in full on
January 16, 2013.
NuStar intends to use the approximately $391.5 million net proceeds from
the offering for general partnership purposes, including repayment of
outstanding borrowings under its revolving credit facility, which NuStar
Logistics may re-borrow to pay for a portion of the purchase price or
growth capital in connection with the acquisition of certain assets by
NuStar Logistics from TexStar Crude Oil Services, LP, TexStar Crude Oil
Pipeline, LP, TexStar Midstream Utility, LP, TexStar Midstream
Transport, LP, TexStar Midstream Services, LP and Frio Pipeline, LP.
Citigroup Global Markets Inc., RBC Capital Markets, LLC, UBS Securities
LLC and Wells Fargo Securities, LLC are acting as joint book-running
managers for the offering. Barclays Capital Inc., Credit Suisse
Securities (USA) LLC, Deutsche Bank Securities Inc., J.P. Morgan
Securities LLC, Raymond James & Associates, Inc. and Stifel, Nicolaus &
Company, Incorporated are acting as senior co-managers for the offering
and BB&T Capital Markets, a division of BB&T Securities, LLC, BNP
Paribas Securities Corp., Comerica Securities, Inc., Goldman, Sachs &
Co., MLV & Co. LLC and PNC Capital Markets LLC are acting as co-managers
for the offering.
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.
A copy of the prospectus supplement and accompanying base prospectus
relating to this offering may be obtained from any of the underwriters,
including
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155
Long Island Avenue
Edgewood, New York 11717
Telephone: (800)
831-9146
RBC Capital Markets, LLC
200 Vesey Street
Three World
Financial Center
New York, New York 10281
Attention:
Transaction Management
Telephone: (866) 375-6829
UBS Securities LLC
299 Park Avenue
New York, New York 10171
Attention:
Prospectus Specialist
Telephone: (877) 827-6444, Ext: 561 3884
Wells Fargo Securities, LLC
1525 West W.T. Harris Blvd.
NC0675,
Charlotte, North Carolina 28262
Attention: Capital Markets Client
Support
Telephone: (800) 326-5897
You may also obtain these documents for free when they are available by
visiting the SEC’s website at www.sec.gov.
NuStar Energy L.P., a publicly traded limited partnership based in San
Antonio, is one of the largest independent liquids terminal and pipeline
operators in the nation. The partnership currently has 8,573 miles of
pipeline; 87 terminal and storage facilities that store and distribute
crude oil, refined products and specialty liquids; and a 50% ownership
in two asphalt refineries with a combined throughput capacity of 104,000
barrels per day. The partnership’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, the United Kingdom and Turkey.
This press release includes forward-looking statements regarding future
events. All forward-looking statements are based on the partnership's
beliefs as well as assumptions made by and information currently
available to the partnership. These statements reflect the partnership’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 L.P.’s 2011 annual report on
Form 10-K and subsequent filings with the Securities and Exchange
Commission.
Source: NuStar Energy L.P.
NuStar Energy, L.P., San Antonio
Investors, Chris Russell, Vice
President
Investor Relations: 210-918-3507
or
Media, Mary
Rose Brown, Executive Vice President,
Corporate Communications:
210-918-2314
Web site: http://www.nustarenergy.com