Sunoco Logistics Partners L.P. (NYSE: SXL) today announced the pricing of $350 million aggregate principal amount of 3.45% senior notes due 2023 and $350 million aggregate principal amount of 4.95% senior notes due 2043 of its wholly owned subsidiary, Sunoco Logistics Partners Operations L.P. (the “Operating Partnership”). The sale of the senior notes is expected to settle on January 10, 2013, subject to customary closing conditions. The Operating Partnership intends to use the net proceeds of approximately $692 million from this offering to repay in full the balance outstanding under its $350 million revolving credit facility and the balance outstanding under the $200 million revolving credit facility under which Sunoco Partners Marketing & Terminals L.P. is the borrower and SXL and the Operating Partnership are the guarantors. SXL will use the remainder of the net proceeds for general partnership purposes, including to partially finance its $700 million 2013 expansion capital plan.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., and RBS Securities Inc. are acting as joint book-running managers for the offering. Deutsche Bank Securities Inc., Goldman, Sachs & Co., PNC Capital Markets LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, and U.S. Bancorp Investments, Inc. are acting as co-managing underwriters. The offering is being made by means of a prospectus and related prospectus supplement, copies of which may be obtained from the following addresses:
J.P. Morgan Securities LLC
383 Madison AvenueNew York, New York 10179Attention: Investment Grade Syndicate Desk - 3
FloorTelephone: (212) 834-4533
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions1155 Long Island Ave.Edgewood, NY 11717Telephone: (800) 831-9146
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This press release shall not constitute an offer to sell or the 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such 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. The offering is made pursuant to an effective shelf registration statement and prospectus filed by SXL with the SEC.