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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Tue., Jul. 28, 4:20 AM

Slide #22. Sunoco LP Secondary Offering

Company: Sunoco LP (NYSE:SUN)
Date announced: 7/15/2015
Shares Offered: 5,500,000
Date of Pricing: 7/15/2015
Price Per Share: $40.10
Secondary Offering Details: Sunoco LP (NYSE: SUN) (the "Partnership") today announced that it has commenced a registered underwritten public offering of 5,500,000 common units representing limited partner interests in the Partnership, pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC"). The Partnership expects to grant the underwriters a 30-day option to purchase up to 825,000 additional common units. The Partnership intends to use the net proceeds from the offering, and from the underwriters' exercise of their option to purchase additional common units, if applicable, to repay borrowings outstanding under its revolving credit facility and for general partnership purposes. The Partnership intends to use borrowings under its revolving credit facility, along with the net proceeds from the concurrent private placement of $500 million of aggregate principal amount of senior notes due 2020, to fund the cash consideration in its pending acquisition of 100% of the issued and outstanding shares of Susser Holdings Corporation. - updated 7/16 - Sunoco LP (NYSE: SUN) (the "Partnership") today announced that it has priced its registered underwritten public offering of 5,500,000 common units representing limited partner interests in the Partnership, pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC") at $40.10 per common unit. The offering is expected to close on or about July 21, 2015. The Partnership granted the underwriters a 30-day option to purchase up to 825,000 additional common units. The Partnership intends to use the net proceeds from the offering, and from the underwriters' exercise of their option to purchase additional common units, if applicable, to repay borrowings outstanding under its revolving credit facility and for general partnership purposes. The Partnership intends to use borrowings under its revolving credit facility, along with the net proceeds from the concurrent private placement of $600 million of aggregate principal amount of senior notes due 2020, to fund the cash consideration in its pending acquisition of 100% of the issued and outstanding shares of Susser Holdings Corporation.

Sunoco LP is a wholesale distributor of motor fuels and other petroleum products, and it leases or subleases to its parent, Susser Holdings Corporation, third-party dealers, and independent operators of consignment locations, real estate used primarily in the retail distribution of motor fuels. Co. distributes branded motor fuel under the Chevron, CITGO, Conoco, Exxon, Mobil, Phillips 66, Shamrock, Shell, Texaco and Valero brands. Co. also distributes unbranded motor fuel. In addition to distributing motor fuel, Co. distributes other petroleum products such as propane and lube oil, and receives rental income from real estate that it leases or subleases.
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Company Name:  Sunoco LP
Website:  www.sunocolp.com
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding SUN:  3
Total Market Value Held by ETFs:  $7.06M
Total Market Capitalization:  $937.00M
% of Market Cap. Held by ETFs:  0.75%
 

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July 28, 2015    4:20 AM Eastern
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Buy (3.17 out of 4)
58th percentile
(ranked higher than approx. 58% of all stocks covered)
Based on Zacks ABR data;
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