SAN ANTONIO--(Business Wire)--
NuStar Energy L.P. (NYSE:NS) announced today it has priced a public offering of
5,000,000 common units representing limited partner interests at $52.45 per
common unit. Net proceeds from the offering, including the general partner`s
proportionate capital contribution, are expected to be used by NuStar Energy
L.P. for general partnership purposes, including potential future acquisitions
and growth capital expenditures. Pending the use of the proceeds for other
purposes, the partnership intends to apply some or all of the net proceeds to
reduce outstanding borrowings under its revolving credit facility. The offering
is scheduled to close November 13, 2009. NuStar Energy L.P. also granted to the
underwriters a 30-day option to purchase up to an additional 750,000 common
units.
Morgan Stanley & Co. Incorporated, UBS Securities LLC, Credit Suisse Securities
(USA) LLC and Wells Fargo Securities, LLC are acting as joint book-running
managers of the offering. Barclays Capital Inc., Citigroup Global Markets Inc.,
Goldman, Sachs & Co., J.P. Morgan Securities Inc., Deutsche Bank Securities
Inc., Oppenheimer & Co. Incorporated, Raymond James & Associates, Inc. and
Tudor, Pickering, Holt & Co. Securities, Inc. are acting as co-managing
underwriters of the offering.
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 offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The offering may be made only
by means of a prospectus and related prospectus supplement.
A copy of the prospectus supplement and the prospectus relating to this offering
may be obtained from any of the underwriters, including Morgan Stanley & Co.
Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, email: prospectus@morganstanley.com, telephone: 866-718-1649;
UBS Securities LLC, Attn: Prospectus Dept., 299 Park Avenue, New York, NY 10171,
telephone: 888-827-7275; Credit Suisse Securities (USA) LLC, Attn: Prospectus
Dept., One Madison Avenue, 1B, New York, NY 10010, telephone: 800-221-1037; or
Wells Fargo Securities, LLC, Attn: Equity Syndicate Dept., 375 Park Avenue, New
York, NY 10152, email: equity.syndicate@wachovia.com, telephone: 800-326-5897.
You may also obtain these documents for free when they are available by visiting
the Securities and Exchange Commission`s website at www.sec.gov.
NuStar Energy L.P. is a publicly traded, limited partnership based in San
Antonio, with 8,417 miles of crude oil and refined product pipelines; 82
terminal facilities that store and distribute crude oil, refined products and
specialty liquids; four crude oil storage tank facilities; and two asphalt
refineries with a combined throughput capacity of 104,000 barrels per day. The
partnership`s combined system has over 91 million barrels of storage capacity.
One of the largest asphalt refiners and marketers in the U.S. and the second
largest independent liquids terminal operator in the nation, NuStar has
operations in the United States, the Netherlands Antilles, Canada, Mexico, the
Netherlands and the United Kingdom.
This press release includes forward-looking statements regarding future events.
All forward-looking statements are based on the partnership`s beliefs as well as
assumptions made by and information currently available to the partnership.
These statements reflect the partnership`s current views with respect to future
events and are subject to various risks, uncertainties and assumptions. These
risks, uncertainties and assumptions are discussed in NuStar Energy L.P.`s 2008
annual report on Form 10-K and subsequent filings with the Securities and
Exchange Commission. NuStar Energy L.P. undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the occurrence
of unanticipated events or changes to future operating results over time.
NuStar Energy, L.P., San Antonio
Investors, Mark Meador, Vice President,
Investor Relations: 210-918-2895
or
Media, Mary Rose Brown, Senior Vice President,
Corporate Communications: 210-918-2314
Web site: http://www.nustarenergy.com
Copyright Business Wire 2009
