NuStar Logistics Announces Closing Of Senior Notes Offering Due Feb. 1, 2021

(RTTNews) - NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy L.P. (NS), announced the closing of its previously announced public offering of $300 million principal amount of 6.750% senior notes due February 1, 2021.

The company stated that the senior notes were priced at 100% of par at a yield to maturity of 6.750%.

NuStar said it expects to use the approximately $296.3 million net proceeds from this offering for general partnership purposes, including the repayment of a portion of the outstanding borrowings under NuStar Logistics' revolving credit facility.

NuStar used such borrowings for general partnership purposes, including capital expenditures, working capital requirements, the repayment of the $250 million outstanding principal amount of NuPOP's 5.875% senior notes on June 3, 2013 and the repayment of the $229.9 million outstanding principal amount of NuStar Logistics' 6.05% senior notes on March 15, 2013.