NuStar Energy (NS) Prices 5.25M Share Offering at $53.45/Unit
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NuStar Energy L.P. (NYSE: NS) has priced an offering of 5,250,000 common units at a public offering price of $53.45 per unit.
The partnership has granted the underwriters a 30-day option to purchase up to 787,500 additional common units. In the offering, the partnership expects that 187,000 common units will be sold to William E. Greehey, the Chairman of the board of directors of NuStar GP, LLC. The offering is scheduled to close Friday, December 9, 2011. The partnership currently intends to use the net proceeds from the offering, including the general partner’s proportionate capital contribution and any exercise of the underwriters’ option to purchase additional units, to reduce outstanding borrowings under its revolving credit facility.
Credit Suisse, Barclays Capital, BofA Merrill Lynch, Citigroup, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of the offering. Deutsche Bank Securities, Goldman, Sachs & Co., Raymond James, Stifel Nicolaus Weisel and UBS Investment Bank are acting as co-managers of the offering.
The partnership has granted the underwriters a 30-day option to purchase up to 787,500 additional common units. In the offering, the partnership expects that 187,000 common units will be sold to William E. Greehey, the Chairman of the board of directors of NuStar GP, LLC. The offering is scheduled to close Friday, December 9, 2011. The partnership currently intends to use the net proceeds from the offering, including the general partner’s proportionate capital contribution and any exercise of the underwriters’ option to purchase additional units, to reduce outstanding borrowings under its revolving credit facility.
Credit Suisse, Barclays Capital, BofA Merrill Lynch, Citigroup, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of the offering. Deutsche Bank Securities, Goldman, Sachs & Co., Raymond James, Stifel Nicolaus Weisel and UBS Investment Bank are acting as co-managers of the offering.
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