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NuStar Energy L.P. Announces Pricing Of Common Units In Equity Offering

Stocks in this article: NS

NuStar Energy L.P. (NYSE:NS) announced the pricing of an offering of 6,200,000 common units at a public offering price of $48.94 per unit. The partnership has granted the underwriters a 30-day option to purchase up to 930,000 additional common units. In the offering, the partnership expects that 490,000 common units will be sold to William E. Greehey, the Chairman of the board of directors of NuStar GP, LLC. The offering is scheduled to close Monday, September 10, 2012. 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.

A copy of the prospectus supplement and the prospectus relating to this offering may be obtained from any of the underwriters, including:

UBS Investment Bank
299 Park Avenue

New York, New York 10010

Attn: Prospectus Department
Telephone: (888) 827-7275
 

Barclays

c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (888) 603-5847
 
Credit Suisse
One Madison Avenue

New York, New York 10010

Attn: Prospectus Department
Telephone: (800) 221-1037
 
Deutsche Bank Securities
60 Wall Street
New York, New York 10005
Attn: Prospectus Department

Telephone: (800) 503-4611

 
J.P. Morgan Securities
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (866) 803-9204
 
Morgan Stanley
180 Varick Street
Second Floor
New York, NY 10014
Attention: Prospectus Department
Telephone: (866) 718-1649
 
RBC Capital Markets
277 Front St. W.
5th Floor
Toronto, Ontario M5V 2X4
Attn: Distribution Centre
Fax: (416) 313-6066
 
Wells Fargo Securities
375 Park Avenue
New York, NY 10152
Attn: Equity Syndicate Dept.
Telephone: (800) 326-5897
 

You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission’s website at www.sec.gov.

NuStar Energy L.P. is a publicly traded limited partnership based in San Antonio, with 8,433 miles of pipeline; 84 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids; and two asphalt refineries and a fuels refinery with a combined throughput capacity of 118,500 barrels per day. The partnership’s combined system has approximately 96 million barrels of storage capacity. One of the largest asphalt refiners and marketers in the U.S. and the second largest independent liquids terminal operator in the nation, NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey.

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