Sidley represented the initial purchasers in connection with a high-yield Rule 144A notes offering by Sunoco LP (Sunoco) of US$500 million aggregate principal amount of 7.000% Senior Notes due 2028. Sunoco intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its existing US$1.5 billion revolving credit facility.
Sunoco LP (NYSE: SUN) is a master limited partnership with core operations that include the distribution of motor fuel to approximately 10,000 convenience stores, independent dealers, commercial customers, and distributors located in more than 40 U.S. states and territories as well as refined product transportation and terminalling assets.
The Sidley team was led by partners Jon Daly (Energy and Infrastructure) and Johnny Skumpija (Capital Markets), with assistance from Tanner Groce (Energy and Infrastructure), Alan Williams (Energy and Infrastructure), Walter Deere (Energy and Infrastructure), Heather Palmer (Environmental), Greta Carlson (Environmental), Angela Richards (Tax), and Aaron Mitchell (Tax).
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