HOUSTON – Bracewell LLP represented Truist, as joint lead arranger and lender, in connection with Sunoco LP’s $7.3 billion acquisition of Nustar Energy L.P. Truist provided Sunoco with $1.6 billion of committed bridge financing to refinance NuStar’s Series A, B and C preferred units, subordinated notes, revolving credit facility and receivables financing agreement in connection with the acquisition.
Sunoco LP is a master limited partnership with core operations that include the distribution of motor fuel to independent dealers, commercial customers and distributors located in more than 40 US states and territories, as well as refined product transportation and terminaling assets.
NuStar Energy L.P. is an independent liquids terminal and pipeline operator.
Bracewell lawyers involved in the transactions included:
Partners: Heather L. Brown and Will Anderson
Counsel: Jennifer N. Dill
Associates: Dylan W. Benac and Andrew W. Monk