* Net proceeds to fund acquisitions, capex and repay debt
* Shares fall 5 pct in post-market trade
Nov 9 (Reuters) - NuStar Energy LP, which operates oil pipelines, storage facilities and asphalt refineries, said it will offer 5 million units and use the net proceeds to fund potential acquisitions and capital expenditures, and repay debt.
Shares of the company dropped 5 percent to $52.13 in trading after the bell. They closed at $54.94 Monday on the New York Stock Exchange.
NuStar joins an inflated list of energy firms that have chosen equity offerings as a means to raise funds to bolster their capital budget and expansion plans.
The company said it has given its underwriters, Morgan Stanley & Co Inc, UBS Securities LLC, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, a 30-day option to purchase up to 750,000 additional common units.
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Anne Pallivathuckal) Keywords: NUSTAR/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Shares fall 5 pct in post-market trade
Nov 9 (Reuters) - NuStar Energy LP, which operates oil pipelines, storage facilities and asphalt refineries, said it will offer 5 million units and use the net proceeds to fund potential acquisitions and capital expenditures, and repay debt.
Shares of the company dropped 5 percent to $52.13 in trading after the bell. They closed at $54.94 Monday on the New York Stock Exchange.
NuStar joins an inflated list of energy firms that have chosen equity offerings as a means to raise funds to bolster their capital budget and expansion plans.
The company said it has given its underwriters, Morgan Stanley & Co Inc, UBS Securities LLC, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, a 30-day option to purchase up to 750,000 additional common units.
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Anne Pallivathuckal) Keywords: NUSTAR/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
