- 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.
- Previously: NuStar Energy's subsidiary launches senior notes (Sep 8)