Sunoco Logistics Partners LP commenced a public offering of 7,700,000 common units pursuant to an effective shelf registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission. Underwriters will be granted an option to purchase up to an additional 1,155,000 common units. Sunoco plans to use the net proceeds to repay outstanding borrowings under its $1.5 billion revolving credit facility and for general partnership purposes.
Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., Jefferies, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are acting as the joint book-running managers for the offering.
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