NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy
L.P. NS, today announced that it plans to conduct an offering of
Fixed-to-Floating Rate Subordinated Notes due 2043. NuStar intends to grant
the underwriters the option to purchase additional Notes within 30 days solely
to cover over-allotments.
NuStar intends to use the net proceeds of the offering for general partnership
purposes, including repayment of outstanding borrowings under NuStar
Logistics' revolving credit facility, which it may re-borrow to pay for a
portion of the purchase price of the TexStar NGL assets or growth capital
associated with the TexStar Midstream Services LP acquisition.
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