Monday, NuStar Energy L.P. (NS) announced its plans to conduct a public offering of 5 million common units. The underwriters will be granted a 30-day option to purchase up to 750 thousand additional common units.
The partnership intends to use the net proceeds from the offering, including the general partner's proportionate capital contribution and any exercise of the underwriters' option to purchase additional units, for general partnership purposes, including potential future acquisitions and growth capital expenditures. Morgan Stanley & Co. Inc., UBS Securities LLC, Credit Suisse Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering.
NuStar Energy L.P. engages in the terminalling, storage, and transportation of petroleum products in the United States, the Netherland Antilles, Canada, Mexico, the Netherlands and the United Kingdom. It operates through the three segments: Storage, Transportation, and Asphalt and Fuels Marketing.
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