Sunoco LP (SUN) has provided an announcement.
On May 3, 2024, Sunoco and NuStar completed a significant merger, leading to a series of financial maneuvers involving several credit agreements and guarantee arrangements. Sunoco established a $1.50 billion revolving credit facility, extending to 2029, with the option to increase funds by $500 million. Concurrently, NuStar agreed to various amendments in its credit agreements to maintain operations post-merger, including an unsecured $1.0 billion revolving credit facility. Additionally, Sunoco took on NuStar’s existing senior notes totaling $2.25 billion and subordinated notes. To facilitate the merger, Sunoco Retail LLC, a Sunoco subsidiary, subscribed to NuStar common units valued at over $28 million, and Sunoco announced plans to acquire NuStar’s outstanding preferred units and redeem subordinated notes.
See more data about SUN stock on TipRanks’ Stock Analysis page.
