Sunoco Logistics Partners L.P. Announces Pricing of Secondary Public Offering of Common Units
03 February 2010 - 1:30AM
PR Newswire (US)
PHILADELPHIA, Feb. 2 /PRNewswire-FirstCall/ -- Sunoco Logistics
Partners L.P. (NYSE:SXL) (the "Partnership") today announced the
pricing in an underwritten public offering of 2,200,000 common
units owned by its general partner, Sunoco Partners LLC, (the
"General Partner"), an indirect wholly-owned subsidiary of Sunoco,
Inc. The General Partner has priced the common units at $68.85 per
unit. The underwriters have been granted an option to purchase up
to 330,000 common units. The Partnership will not receive any of
the proceeds from this offering and the Partnership's number of
outstanding units will remain unchanged. The offering will be made
under the Partnership's effective shelf registration statement on
Form S-3, as amended, filed with the Securities and Exchange
Commission. Barclays Capital, Citi, Credit Suisse and Wells Fargo
Securities are acting as joint book-running managers for the common
unit offering. A copy of the final prospectus supplement and the
accompanying prospectus related to this offering may be obtained
from Barclays Capital, c/o Broadridge Integrated Distribution
Services, 1155 Long Island Avenue, Edgewood, NY, 11717, or by
calling Barclays Capital toll-free at (888) 603-5847 or by e-mail
at , or Citi, Brooklyn Army Terminal, Attention: Prospectus
Department, 140 58th Street, 8th Floor, Brooklyn, NY, 11220, or by
calling Citi toll-free at (800) 831-9146 or by e-mail at , or
Credit Suisse, One Madison Avenue, Attn: Prospectus Dept., New
York, NY, 10010 or by calling Credit Suisse toll free at (800)
221-1037, or Wells Fargo Securities, Attn: Equity Syndicate
Department, 375 Park Avenue, New York, New York 10152 at
800-326-5897 or by calling toll-free (800) 326-5897 or by email at
. You may also obtain these documents for free by visiting the SEC
website at http://www.sec.gov/. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. The offering may be made only by means of a
prospectus supplement and related prospectus supplement. Sunoco
Logistics Partners L.P. (NYSE:SXL), headquartered in Philadelphia,
is a master limited partnership formed to acquire, own and operate
refined product and crude oil pipelines and terminal facilities.
The Refined Products Pipeline System consists of approximately
2,200 miles of refined product pipelines located in the
Northeastern and Midwestern United States, the MagTex Pipeline
System, and interests in four refined products pipelines,
consisting of a 9.4 percent interest in Explorer Pipeline Company,
a 31.5 percent interest in Wolverine Pipe Line Company, a 12.3
percent interest in West Shore Pipe Line Company and a 14.0 percent
interest in Yellowstone Pipe Line Company. The Terminal Facilities
consist of approximately 10.1 million shell barrels of refined
products terminal capacity and approximately 23.0 million shell
barrels of crude oil terminal capacity (including approximately
19.6 million shell barrels of capacity at the Texas Gulf Coast
Nederland Terminal). The Crude Oil Pipeline System consists of
approximately 3,850 miles of crude oil pipelines, located
principally in Oklahoma and Texas, a 55.3 percent interest in
Mid-Valley Pipeline Company, a 43.8 percent interest in the West
Texas Gulf Pipe Line Company and a 37.0 percent interest in the
Mesa Pipe Line System. Note: Statements about the offering may be
forward-looking statements as defined by federal law. Although
Sunoco Logistics Partners L.P. believes that the assumptions
underlying these statements are reasonable, investors are cautioned
that such forward-looking statements are inherently uncertain and
necessarily involve risks that may affect the Partnership's
business prospects and performance causing actual results to differ
from those discussed in the foregoing release. Such risks and
uncertainties include, by way of example and not of limitation:
increased competition; changes in demand for crude oil and refined
products that we store and distribute; changes in operating
conditions and costs; changes in the level of environmental
remediation spending; potential equipment malfunction; potential
labor issues; the legislative or regulatory environment; plant
construction/repair delays; nonperformance by major customers or
suppliers; and political and economic conditions, including the
impact of potential terrorist acts and international hostilities.
These and other applicable risks and uncertainties have been
described more fully in the Partnership's Form 10-K filed with the
Securities and Exchange Commission on February 24, 2009. The
Partnership undertakes no obligation to update any forward-looking
statements in this release, whether as a result of new information
or future events. DATASOURCE: Sunoco Logistics Partners L.P.
CONTACT: Thomas Golembeski (media), +1-215-977-6298, or Neal Murphy
(investors), +866-248-4344 Web Site:
http://www.sunocologistics.com/
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