NuStar Energy L.P. (NS) said it has priced a public offering of 5 million 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 thousand common units.
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