Sunoco Launches $1 Bln Private Offering Of Series A Preferred Units

(RTTNews) - Sunoco LP (SUN) has launched a private offering of 1,000,000 Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units.

Proceeds will help fund the cash portion of its planned acquisition of Parkland Corporation, alongside two private senior notes offerings totaling $1.7 billion. Until the deal closes, funds may be used to reduce borrowings under Sunoco's credit facility and cover related costs.

If the Parkland acquisition does not close by May 5, 2026, or is terminated earlier, the Series A Preferred Units will be subject to a mandatory redemption at $1,000 per unit plus accrued and unpaid distributions.

SUN currently trades at $51.36 or 0.47% lower on the NYSE.