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27 Feb 2026

Vinson & Elkins Advises Sunoco on $1.2 Billion Upsized Senior Notes Offering

"Vinson & Elkins represented Sunoco LP in an upsized $1.2 billion senior notes offering comprising $600M 5.375% notes due 2031 and $600M 5.625% notes due 2034. Net proceeds will redeem NuStar Logistics’ 6.00% notes due 2026 and Sunoco’s 6.00% notes due 2027, with any remainder for general partnership purposes. The offering priced Feb. 26, 2026 and is expected to close Mar. 9, 2026."

Vinson & Elkins represented Sunoco LP (NYSE: SUN) in connection with an upsized offering of senior notes and related financing arrangements. The transaction consisted of an aggregate principal amount of $1.2 billion of senior notes, made up of $600 million of 5.375% senior notes due 2031 and $600 million of 5.625% senior notes due 2034. Sunoco intends to use the net proceeds from the offering to redeem in full NuStar Logistics, L.P.’s 6.000% senior notes due 2026 and Sunoco’s 6.000% senior notes due 2027, with any remainder to be used for general partnership purposes, which may include repayment of additional indebtedness. The offering priced on February 26, 2026 and is expected to close on March 9, 2026. Vinson & Elkins represented Sunoco LP with a team composed by: Partners Jackson O’Maley, Ben Heriaud and David Stone; Senior Associate Walt Baker; Associates Taylor Santori, Rachel Campbell Alexander, Ethan Twining and Oscar Miller; Partners Wendy Salinas and Ryan Carney; Senior Associate Lauren Nieman and Associate Addyson Jackson; Counsel Maya Bobbitt and Associate Cam Viney; Counsel Missy Spohn and Associate Henry Crowell; Partner Joyce Adetutu and Senior Associate Frankie Velez; and Associate Patience Li. The corporate team led the representation on the offering and related matters.
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