NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy L.P. (NYSE: NS), today announced that it plans to issue senior notes due 2018 pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. 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.
Barclays Capital Inc., J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey Inc. are acting as lead book-running managers for this transaction. A copy of the preliminary prospectus supplement and prospectus relating to this offering may be obtained from any of the underwriters, including Barclays Capital Inc., Attention Syndicate Desk, 200 Park Avenue, New York, New York 10166, telephone: 1-888-227-2275 (ext. 2663) or from J.P. Morgan Securities Inc., Investment Grade Syndicate Desk, 270 Park Avenue, New York, New York 10017, telephone: 212-834-4533 or fax: 212-834-6081 or from SunTrust Robinson Humphrey Inc., Attention Corporate Syndicate, 3333 Peachtree Rd, 11th Floor, Atlanta, Georgia 30318, telephone: 1-800-685-4786.
This news release does 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.
NuStar Energy L.P. is a publicly traded, limited partnership based in San Antonio, with 9,063 miles of pipeline, 86 terminal facilities, four crude oil storage tank facilities and two asphalt refineries with a combined throughput capacity of 104,000 barrels per day. One of the largest asphalt refiners and marketers in the U.S. and the third 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 86 million barrels of storage capacity, and includes two asphalt refineries, 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.
This press release includes forward-looking statements regarding future events. 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 2007 annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.