NuStar Energy LP


Entered into an agreement to sell approximately $590 million of newly issued Series D Cumulative Convertible Preferred Units representing limited partner interests in the partnership in a private placement to investment funds managed or sub-advised by EIG Management Co. LLC and FS/EIG Advisor, LLC, the advisor to FS Energy & Power Fund. In addition, the partnership has entered into an agreement to sell approximately $10 million of common units to William E. Greehey, chairman of the board of directors of NuStar GP LLC, the general partner of the partnership’s general partner.

The purchasers will acquire 23,246,650 preferred units at a price of $25.38 per preferred unit. At the initial closing, scheduled to occur on June 29, 2018, the purchasers will purchase $400 million of preferred units.

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