Sunoco LP (NYSE: SUN) announced a private offering of senior notes due 2031 and 2034 in a total aggregate principal amount of $1.7 billion.
The net proceeds will be used to fund the acquisition of Parkland Corporation and reduce existing borrowings.
The offering is not contingent on the completion of the Parkland Acquisition or the Preferred Equity Offering.
Private Offering of Senior Notes
Sunoco LP announced a private offering of senior notes to raise funds for strategic acquisitions and debt reduction.
Use of Proceeds
The net proceeds will be used to finance the acquisition of Parkland Corporation and reduce existing borrowings.
Contingency Plans
In case of non-completion of the Parkland Acquisition, the notes will be subject to a special mandatory redemption.
- The private offering aims to secure financial resources for Sunoco LP's expansion plans through acquisitions.
- The acquisition of Parkland Corporation can enhance Sunoco's market presence and potentially drive growth in the energy sector.
The private offering of senior notes by Sunoco LP signifies a strategic move to strengthen its financial position and support growth initiatives through acquisitions.