Sunoco Logistics Partners L.P. Announces Pricing Of Senior Notes

PHILADELPHIA, Feb. 11 /PRNewswire-FirstCall/ -- Sunoco Logistics Partners L.P. (NYSE: SXL) announced that its wholly owned subsidiary, Sunoco Logistics Partners Operations L.P., priced a public offering of $250 million aggregate principal amount of 5.50% ten-year senior notes, maturing on February 15, 2020, at 99.672% of par value and $250 million aggregate principal amount of 6.85% of thirty-year senior notes, maturing on February 15, 2040, at 99.696% of par value.  This offering was made pursuant to an effective shelf registration statement on Form S-3, as amended, previously filed with the Securities and Exchange Commission. Net proceeds received from this offering will be used to repay the $201.2 million promissory note issued to Sunoco Partners LLC, the Partnership's general partner, in connection with the previously announced incentive distribution exchange transaction.  Additionally, net proceeds will be used to repay outstanding borrowings under the Partnership's $400 million revolving credit facility and for general partnership purposes.  

Barclays Capital Inc., Citigroup Global Markets Inc., UBS Securities LLC and Wells Fargo Securities, LLC are joint book-running managers for the senior notes offering.  Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc., Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC, RBS Securities Inc., SunTrust Robinson Humphrey, Inc. and TD Securities (USA) LLC are co-managers for the senior notes offering.

A copy of the final prospectus supplement and the accompanying prospectus related to this offering may be obtained from Barclays Capital Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY, 11717, or by calling toll-free at (888) 603-5847 or e-mailing [email protected], or Citigroup Global Markets Inc., Brooklyn Army Terminal, Attention: Prospectus Delivery Dept., 140 58th Street, Brooklyn, NY, 11220, or by calling toll-free at (800) 831-9146,  or UBS Securities LLC, Prospectus Dept., 299 Park Ave., New York, NY, 10171, or by calling toll-free at (888) 827-7275, or Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY, 10152, or by calling toll-free (800) 326-5897 or emailing [email protected].  You may also obtain these documents for free by visiting the SEC website at www.sec.gov.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  The offering may be made only by means of a prospectus supplement and related prospectus supplement.  

Sunoco Logistics Partners L.P. (NYSE: SXL), headquartered in Philadelphia, is a master limited partnership formed to acquire, own and operate refined product and crude oil pipelines and terminal facilities.  The Refined Products Pipeline System consists of approximately 2,200 miles of refined product pipelines located in the Northeastern and Midwestern United States, the MagTex Pipeline System, and interests in four refined products pipelines, consisting of a 9.4 percent interest in Explorer Pipeline Company, a 31.5 percent interest in Wolverine Pipe Line Company, a 12.3 percent interest in West Shore Pipe Line Company and a 14.0 percent interest in Yellowstone Pipe Line Company.  The Terminal Facilities consist of approximately 10.1 million shell barrels of refined products terminal capacity and approximately 23.0 million shell barrels of crude oil terminal capacity (including approximately 19.6 million shell barrels of capacity at the Texas Gulf Coast Nederland Terminal). The Crude Oil Pipeline System consists of approximately 3,850 miles of crude oil pipelines, located principally in Oklahoma and Texas, a 55.3 percent interest in the Mid-Valley Pipeline Company, a 43.8 percent interest in the West Texas Gulf Pipe Line Company and a 37.0 percent interest in the Mesa Pipe Line System.

Note: Statements about the offering may be forward-looking statements as defined by federal law.  Although Sunoco Logistics Partners L.P. believes that the assumptions underlying these statements are reasonable, investors are cautioned that such forward-looking statements are inherently uncertain and necessarily involve risks that may affect the Partnership's business prospects and performance causing actual results to differ from those discussed in the foregoing release.  Such risks and uncertainties include, by way of example and not of limitation: increased competition; changes in demand for crude oil and refined products that we store and distribute; changes in operating conditions and costs; changes in the level of environmental remediation spending; potential equipment malfunction; potential labor issues; the legislative or regulatory environment; plant construction/repair delays; nonperformance by major customers or suppliers; and political and economic conditions, including the impact of potential terrorist acts and international hostilities.  These and other applicable risks and uncertainties have been described more fully in the Partnership's Form 10-K filed with the Securities and Exchange Commission on February 24, 2009.  The Partnership undertakes no obligation to update any forward-looking statements in this release, whether as a result of new information or future events.

SOURCE Sunoco Logistics Partners L.P.

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