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NuStar Logistics Announces Public Offering of Hybrid Notes

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NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy L.P. (NYSE: NS), today announced that it plans to conduct an offering of Fixed-to-Floating Rate Subordinated Notes due 2043. NuStar intends to grant the underwriters the option to purchase additional Notes within 30 days solely to cover over-allotments.

NuStar intends to use the net proceeds of the offering for general partnership purposes, including repayment of outstanding borrowings under NuStar Logistics' revolving credit facility, which it may re-borrow to pay for a portion of the purchase price of the TexStar NGL assets or growth capital associated with the TexStar Midstream Services LP acquisition.

Posted-In: News Offerings


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