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
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV