Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
Sunoco Logistics Partners, LP (“Sunoco” or the “Partnership”) (NYSE: SXL) recently completed a follow-on offering of 7,700,000 common units at a price of $48.46 per unit, generating gross proceeds of approximately $373.1 million. The Partnership intends to use the proceeds from the offering to repay outstanding borrowings under its revolving credit facility and for general partnership purposes.Sunoco owns and operates a logistics business, consisting of a geographically diverse portfolio of complementary pipeline, terminalling and acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, refined products and NGLs. The Partnership’s portfolio of geographically diverse assets earns revenues in 35 states located throughout the United States. Sunoco is headquartered in Philadelphia, Pennsylvania.
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- Date
- September 2014
- Company
- Sunoco Logistics Partners, LP
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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