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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tuesday, December 18, 10:41 AM

Slide #43. NuStar Energy L.P. Preferred Stock Offering

Company: NuStar Energy L.P. (NYSE:NS)
Date announced: 11/27/2017
Shares Offered: 6,000,000
Date of Pricing: 11/27/2017
Price Per Share: $25.00
Preferred Stock Offering Details: NuStar Energy L.P. (NYSE:NS) ("NuStar" or the "Partnership") announced today that it has priced an underwritten public offering of 6,000,000 of its 9.00% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the "Preferred Units") at a price of $25.00 per unit. The Partnership has granted the underwriters a 30-day option to purchase up to an additional 900,000 Preferred Units from the Partnership at the public offering price less the underwriting discount. Distributions on the Preferred Units will be payable from and including the date of original issue to, but not including, December 15, 2022, at a rate of 9.00% per annum of the stated liquidation preference of $25.00. On and after December 15, 2022, distributions on the Preferred Units will accumulate at a percentage of the $25.00 liquidation preference equal to an annual floating rate of three-month LIBOR plus a spread of 6.88%. The offering is expected to close on or about November 30, 2017, subject to customary closing conditions.

NuStar Energy is engaged in the transportation of petroleum products and anhydrous ammonia, and the terminalling, storage and marketing of petroleum products. Co.'s reportable business segments are: pipeline, which consist of the transportation of refined petroleum products, crude oil and anhydrous ammonia; storage, which provide storage, handling and other services for petroleum products, crude oil, chemicals and other liquids; and fuels marketing, which involves the purchase of crude oil, fuel oil, bunker fuel, fuel oil blending components and other refined products for resale.

Preferreds: NS.PRA, NS.PRB, NS.PRC


Open the NS Page at Preferred Stock Channel »

Name:  NuStar Energy LP
Website:  www.nustarenergy.com
Sector:  Oil & Gas Refining & Marketing
Number of ETFs Holding NS:  4 (see which ones)
Total Market Value Held by ETFs:  $9,051,319
Total Market Capitalization:  $2,578,000,000
% of Market Cap. Held by ETFs:  0.35%
 

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