Market Overview

Sunoco LP and Energy Transfer Announce Redemption of Sunoco Series A Preferred Units and Repurchase of Sunoco Common Units

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Sunoco LP (NYSE:SUN) ("Sunoco") and Energy Transfer Equity, L.P. (NYSE: ETE) ("ETE") announced that today Sunoco will redeem all outstanding
Series A Preferred Units held by ETE for an aggregate redemption amount
of approximately $312.6 million. The redemption amount includes the
original consideration of $300 million and a 1% call premium plus
accrued and unpaid quarterly distributions. ETE intends to use proceeds
from the redemption of the Sunoco Series A Preferred Units to repay
amounts outstanding under its revolving credit facility.

Sunoco and Energy Transfer Partners, L.P. (NYSE:ETP) ("ETP") also
announced today they have entered into a Common Unit Repurchase
Agreement, whereby Sunoco will repurchase 17,286,859 Sunoco common units
owned by ETP for aggregate cash consideration of approximately $540
million. The repurchase price per common unit is $31.2376, which is
equal to the volume weighted average trading price of Sunoco common
units on the New York Stock Exchange for the ten trading days ending on
January 23, 2018. Sunoco will fund the repurchase with cash on hand and
expects to close the transaction on February 7, 2018, after the record
date for Sunoco's fourth quarter 2017 cash distributions. ETP intends to
use the proceeds from the sale of the Sunoco common units to repay
amounts outstanding under its revolving credit facility.

About Sunoco LP

Sunoco LP (NYSE:SUN) is a master limited partnership that distributes
motor fuel to approximately 9,200 convenience stores, independent
dealers, commercial customers and distributors located in more than 30
states. SUN's general partner is owned by Energy Transfer Equity, L.P.
(NYSE:ETE).

About Energy Transfer

Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership
that owns the general partner and 100% of the incentive distribution
rights (IDRs) of Energy Transfer Partners, L.P. (NYSE:ETP) and Sunoco
LP (NYSE:SUN). ETE also owns Lake Charles LNG Company. On a
consolidated basis, ETE's family of companies owns and operates a
diverse portfolio of natural gas, natural gas liquids, crude oil and
refined products assets, as well as retail and wholesale motor fuel
operations and LNG terminalling.

Energy Transfer Partners, L.P. (NYSE:ETP) is a master limited
partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States.
Strategically positioned in all of the major U.S. production basins, ETP
owns and operates a geographically diverse portfolio of complementary
natural gas midstream, intrastate and interstate transportation and
storage assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation assets; and
various acquisition and marketing assets. ETP's general partner is owned
by Energy Transfer Equity, L.P. (NYSE:ETE).

The information contained in this press release is available on the
Sunoco LP website at www.SunocoLP.com
and the Energy Transfer website at www.energytransfer.com.

Forward-Looking Statements

This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Forward-looking statements may be identified by
the use of the words "anticipates," "expects," "intends," "plans,"
"should," "could," "would," "may," "will," "believes," "estimates,"
"potential," "opportunity," "value-creating," "designed," "predict,"
"seek," "ongoing," "increases" or "continue" and variations or similar
expressions. Such forward-looking statements are subject to a variety of
known and unknown risks, uncertainties, and other factors that are
difficult to predict and many of which are beyond management's control.
An extensive list of factors that can affect future results are
discussed in Annual Reports on Form 10-K filed by SUN, ETE and ETP and
other documents filed from time to time with the Securities and Exchange
Commission. The partnerships undertake no obligation to update or revise
any forward-looking statement to reflect new information or events.

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