Sunoco LP Reports Pricing Of Private Offering Of Senior Notes
Portfolio Pulse from Benzinga Newsdesk
Sunoco LP has announced the pricing of a private offering of senior notes, with $750 million at 7.000% due 2029 and $750 million at 7.250% due 2032. The sale is expected to settle on April 30, 2024.
April 16, 2024 | 9:38 pm
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Sunoco LP's private offering of senior notes could impact its financial flexibility and debt profile, with $1.5 billion raised at rates of 7.000% and 7.250% due in 2029 and 2032 respectively.
The successful pricing and future settlement of these senior notes will likely provide Sunoco with significant capital, enhancing its financial flexibility. The relatively high interest rates indicate a strong demand for Sunoco's debt, potentially reflecting positively on investor confidence in the company's long-term prospects. However, the impact on the stock price will depend on how the market interprets the company's use of the proceeds and its overall debt strategy.
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