Sunoco Logistics Partners LP (NYSE: SXL) priced its public offering of 7.7 million common units at $48.46 each, the company said Sept. 17.
Underwriters were granted an option to purchase up to roughly 1.2 million additional units, the company noted.
The net proceeds will repay outstanding borrowings under the $1.5 billion revolving credit facility and support general corporate purposes, Sunoco Logistics said.
Barclays Plc (NYSE: BCS), Citigroup (NYSE: C), Credit Suisse (NYSE: CS), Deutsche Bank Securities, Goldman Sachs & Co., Jefferies, J.P. Morgan, Morgan Stanley (NYSE: MS), UBS Investment Bank and Wells Fargo Securities LLC are joint book-running managers. Baird and Stifel are co-managers, the company said.
Philadelphia-based Sunoco Logistics Partners LP is a domestic-focused midstream MLP.
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