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NuStar Energy's subsidiary prices senior notes offering

  • NuStar Logistics, a wholly owned operating subsidiary of NuStar Energy (NYSE:NS) priced $600M principal amount of 5.750% senior notes due October 1, 2025 and $600M principal amount of 6.375% senior notes due October 1, 2030.
  • Notes were priced at par.
  • Offer settlement date is expected to be September 14, 2020.
  • Amounts repaid under NuStar Logistics revolving credit agreement may be re-borrowed and used for the payment of $300M, 6.75% senior notes due 2021 at their maturity and for general partnership purposes.
  • Snapshot of NuStar Energy's debt maturity schedule:

  • High dividend yield of 13%, Wall Street Analysts rating stands Neutral, PT $16.44.

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