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NuStar Energy
NS announced today it has closed its previously
announced public offering of 7,130,000 common units representing limited
partner interests at $48.94 per common unit, including 930,000 common units
sold to the underwriters pursuant to their option to purchase additional
units, which the underwriters exercised in full on September 7, 2012. In the
offering, 490,000 common units were sold to William E. Greehey, the Chairman
of the board of directors of NuStar GP, LLC.
Total net proceeds (before expenses) from the sale of 7,130,000 common units
in the offering are approximately $337.1 million. The partnership currently
intends to use the net proceeds from the offering, including the general
partner's proportionate capital contribution, for general partnership
purposes, including repayment of outstanding borrowings under its revolving
credit facility, working capital purposes and to finance potential future
acquisitions.
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