Sunoco LP raises US $800 million in debt to be repaid in 2023

Sunoco LP said on March 27 it has raised $800 million in debt maturing 2023 to obtain funds it will use to buy a 31.6% membership interest in Sunoco Llc from a wholly owned subsidiary of Energy Transfer Partners and also to repay borrowings of its revolving credit, the company said.

Sunoco is a master limited partnership that primarily distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors. Sunoco also operates more than 150 convenience stores and retail fuel sites.

Sunoco's general partner is a wholly owned subsidiary of ETP. While primarily engaged in natural gas, natural gas liquids, crude oil and refined products transportation, ETP also operates a retail business with a network of more than 5,500 company or independently operated retail fuel outlets and convenience stores through its wholly owned subsidiaries, Sunoco, Inc. and Stripes LLC.