Monday, Sunoco Logistics Partners L.P. (SXL) commenced a public offering of 2.2 million common units owned by its general partner, Sunoco Partners LLC, an indirect subsidiary of Sunoco, Inc. The underwriters have been granted an option to purchase up to 330,000 additional 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. Barclays Capital, Citi, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers for the common unit offering.
Sunoco Logistics Partners L.P. engages in the transport, terminalling, and storage of refined products and crude oil, as well as the purchase and sale of crude oil in the United States.
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