NuStar Energy L.P. Prices Upsized Equity Offering Of Common Units - Quick Facts

(RTTNews) - NuStar Energy L.P. (NS) announced the pricing of an offering of 13 million common units for gross proceeds of approximately $199.6 million. The offering is scheduled to close August 11, 2023.

NuStar Energy L.P. or the partnership plans to use the net proceeds from the offering to redeem outstanding Series D Cumulative Convertible Preferred Units and to pay related fees and expenses. Pending the use, the Partnership intends to repay outstanding borrowings under revolving credit agreement.

NuStar Energy L.P., a publicly traded master limited partnership, currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids.