NuStar Energy L.P. (NYSE:NS) today announced that it plans to sell 2,600,000 common units pursuant to an effective shelf registration statement on Form S-3ASR previously filed with the Securities and Exchange Commission. The underwriters have been granted a 30-day option to purchase up to 390,000 additional common units.  The partnership currently intends to use the net proceeds from the offering to repay a portion of the outstanding principal balance under its revolving credit facility. 

 

Lehman Brothers Inc. and Citi will act as joint book-running managers of the offering. Goldman, Sachs & Co., Morgan Stanley and Co. Incorporated, UBS Securities LLC, Wachovia Capital Markets, LLC and RBC Capital Markets Corporation will act as co-managing underwriters of the offering.

 

This news release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

 

A copy of the preliminary prospectus supplement and prospectus relating to this offering may be obtained from any of the underwriters, including Lehman Brothers Inc., c/o Broadridge, 1155 Long Island Avenue, Edgewood, NY 11717, fax: 631-254-7410, email: qiana.smith@broadridge.com or from Citigroup Global Markets Inc., Brooklyn Army Terminal, Attn: Prospectus Delivery Department, 140 58th Street, Brooklyn, NY  11220, phone: 718-765-6732.

 

NuStar Energy L.P. is a publicly traded, limited partnership based in San Antonio, with 9,113 miles of pipeline, 85 terminal facilities and four crude oil storage tank facilities.  The second largest independent liquids terminal operator in the world, NuStar has operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. The partnership’s combined system has over 81 million barrels of storage capacity, and includes crude oil and refined product pipelines, refined product terminals, a petroleum and specialty liquids storage and terminaling business, as well as crude oil storage facilities.  For more information, visit NuStar Energy L.P.'s Web site at www.nustarenergy.com. 

 

This press release includes forward-looking statements regarding future events and the future financial performance of NuStar Energy L.P. All forward-looking statements are based on the partnership's beliefs as well as assumptions made by and information currently available to the partnership. These statements reflect the partnership's current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in NuStar Energy L.P.'s 2006 annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.