NuStar Energy L.P. (NYSE:NS) announced today that it plans to conduct an offering of 6,200,000 common units pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. The partnership will grant the underwriters a 30-day option to purchase up to 930,000 additional common units. In the offering, the partnership expects that approximately 490,000 common units will be sold to William E. Greehey, the Chairman of the board of directors of NuStar GP, LLC. The partnership currently intends to use the net proceeds from the offering, including the general partner’s proportionate capital contribution and any exercise of the underwriters’ option to purchase additional units, for general partnership purposes, including repayment of outstanding borrowings under its revolving credit facility, working capital purposes and to finance potential future acquisitions.
UBS Investment Bank, Barclays, Credit Suisse, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers of the offering. Goldman, Sachs & Co., Raymond James, BB&T Capital Markets and Mitsubishi UFJ Securities are acting as co-managers of 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.
When available, a copy of the prospectus supplement and the prospectus relating to this offering may be obtained from any of the underwriters, including:UBS Investment Bank299 Park AvenueNew York, New York 10010Attn: Prospectus DepartmentTelephone: (888) 827-7275 Barclaysc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Telephone: (888) 603-5847
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