Tuesday Jan 23 2024
Here are the transaction details, do you understand them?
Sunoco on Monday said it would issue 0.4 units, worth about $23.78 based on Friday’s closing price, for each NuStar unit, a nearly 32% premium to NuStar’s Friday closing price of $18.03.
Dallas-based Sunoco said it expects to complete the deal, which diversifies and adds scale to its business, in the second quarter.
Sunoco said it has secured a $1.6 billion 364-day bridge term loan to refinance NuStar’s preferred units, subordinated notes, revolving credit facility and receivables financing agreement.
Professor Elam 
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