NuStar Energy Closes 7.13M Share, $337.1M Public Offering

NuStar Energy (NYSE: NS) announced today it has closed its previouslyannounced public offering of 7,130,000 common units representing limitedpartner interests at $48.94 per common unit, including 930,000 common unitssold to the underwriters pursuant to their option to purchase additionalunits, which the underwriters exercised in full on September 7, 2012. In theoffering, 490,000 common units were sold to William E. Greehey, the Chairmanof the board of directors of NuStar GP, LLC.Total net proceeds (before expenses) from the sale of 7,130,000 common unitsin the offering are approximately $337.1 million. The partnership currentlyintends to use the net proceeds from the offering, including the generalpartner's proportionate capital contribution, for general partnershippurposes, including repayment of outstanding borrowings under its revolvingcredit facility, working capital purposes and to finance potential futureacquisitions.