Follow-On Offering

Energy
Follow-On Offering

Summary

Baird served as a joint bookrunner on this offering.

About

Sunoco LP (the “Partnership”) (NYSE: SUN) recently completed a follow-on offering of 5,500,000 common units at a price of $40.10 per unit, generating gross proceeds of approximately $220.1 million. The partnership intends to use the net proceeds from the offering to repay borrowings under its revolving credit facility and for general partnership purposes. The Partnership intends to use borrowings under its revolving credit facility, along with the net proceeds from the concurrent private placement of $600 million of senior notes due 2020, to fund the cash consideration in its pending acquisition of 100% of the issued and outstanding shares of Susser Holdings Corporation.

Sunoco LP is a growth-oriented limited partnership formed in June 2012 by Susser Corporation. The Partnership has historically engaged in the primarily fee-based wholesale distribution of motor fuels to Susser and third parties, and, through several recent acquisitions, has become engaged in the retail sale of motor fuel and the operation of convenience stores through subsidiaries. In addition to distributing motor fuel, the Partnership also distributes other petroleum products, such as propane and lube oil, and the Partnership receives rental income from real estate that it leases or subleases. The Partnership is headquartered in Houston, Texas.

For additional information about this transaction, please contact:

Gary Placek +1 (414) 765-3611
Kjell Lundal +1 (314) 445-6533
Energy
Follow-On Offering
Date
July 2015
Company
Sunoco LP
Transaction
M&A
Sectors
Energy
Target Location
North America

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