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By Ru Back Packer Staff, updated Thursday, February 1, 7:16 AM

Slide #82. NuStar Energy L.P. Preferred Stock Offering

Company: NuStar Energy L.P. (NYSE:NS)
Date announced: 11/17/2016
Shares Offered: 8,000,000
Date of Pricing: 11/17/2016
Price Per Share: $25.00
Preferred Stock Offering Details: NuStar Energy L.P. (NYSE:NS) ("NuStar" or the "Partnership") today announced that it has priced an underwritten public offering of 8,000,000 of its 8.50% Series A 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 1,200,000 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, 2021, at a rate of 8.50% per annum of the stated liquidation preference of $25.00. On and after December 15, 2021, 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 6.766%. The offering is expected to close on or about November 25, 2016, subject to customary closing conditions.

NuStar Energy is engaged in the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products and the marketing of petroleum products. Co.'s three reportable business segments are: pipeline, which consist of the transportation of refined petroleum products, crude oil and anhydrous ammonia; storage, which includes terminal and storage facilities that provide storage, handling and other services for petroleum products, crude oil, specialty 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.
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Name: NuStar Energy LP
Website: nustarenergy.com
Sector: Oil & Gas Refining & Marketing
Number of ETFs Holding NS: 4 (see which ones)
Total Market Value Held by ETFs: $19,757,977
Total Market Capitalization: $3,133,000,000
% of Market Cap. Held by ETFs: 0.63%

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