PHILADELPHIA, Feb. 6 /PRNewswire-FirstCall/ -- Sunoco Logistics Partners L.P. announced that its wholly-owned subsidiary, Sunoco Logistics Partners Operations L.P., priced $175 million of five-year senior notes, maturing on February 15, 2014, at 99.995 percent of par value. The senior notes will bear interest at 8.75 percent per annum. This offering was made pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The Partnership intends to use the net proceeds from this offering to repay indebtedness outstanding under Sunoco Logistics Partners Operations L.P.'s revolving credit facility, which was incurred to finance the acquisition of the MagTex products pipeline and terminals system.
Citi and UBS Investment Bank are joint book-running managers for the senior notes offering. Barclays Capital, Credit Suisse, Deutsche Bank Securities, KeyBanc Capital Markets, Mitsubishi UFJ Securities, RBS Greenwich Capital, SunTrust Robinson Humphrey and Wachovia are co-managers for the senior notes offering.
A copy of the final prospectus supplement and the related prospectus for the senior notes offering may be obtained from Citi, Brooklyn Army Terminal, Attention: Prospectus Delivery Dept., 140 58th Street, Brooklyn, NY, 11220, or by calling Citi toll-free at (800) 831-9146, or UBS Investment Bank, Prospectus Dept., 299 Park Ave., New York, NY, 10171, or by calling UBS Investment Bank toll-free at (888) 827-7275.
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 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.
Sunoco Logistics Partners L.P. , headquartered in Philadelphia, is a master limited partnership formed to acquire, own and operate refined product and crude oil pipelines and terminal facilities. The Eastern Pipeline System consists of approximately 2,300 miles of primarily refined product pipelines located in the Northeastern and Midwestern United States, the recently acquired MagTex products pipeline system and interests in four refined products pipelines, consisting of a 9.4 percent interest in Explorer Pipeline Company, a 31.5 percent interest in Wolverine Pipe Line Company, a 12.3 percent interest in West Shore Pipe Line Company and a 14.0 percent interest in Yellowstone Pipe Line Company. The Terminal Facilities consist of 9.7 million shell barrels of refined products terminal capacity and 24.0 million shell barrels of crude oil terminal capacity (including approximately 17.1 million shell barrels of capacity at the Texas Gulf Coast Nederland Terminal). The Western Pipeline System consists of approximately 3,700 miles of crude oil pipelines, located principally in Oklahoma and Texas, a 55.3 percent interest in Mid-Valley Pipeline Company, a 43.8 percent interest in the West Texas Gulf Pipe Line Company and a 37.0 percent interest in the Mesa Pipe Line System.
