Sunoco LP announced that it has priced at 100% an upsized private offering of $2.2 billion of senior notes, comprised of $1 billion in aggregate principal amount of 4.875% senior notes due 2023, $800 million in aggregate principal amount of 5.500% senior notes due 2026 and $400 million in aggregate principal amount of 5.875% senior notes due 2028 (collectively, the ‘notes’). This represents a $450 million increase in the original offering amount. Sunoco Finance Corp., a wholly owned direct subsidiary of Sunoco, will serve as co-issuer of the notes. The sale of the notes is expected to settle on January 23, 2018, subject to the satisfaction of customary closing conditions. Sunoco intends to use the net proceeds from the offering to redeem in full its 5.500% senior notes due 2020 at a call premium of 102.750%, plus accrued and unpaid interest, and each of its 6.250% senior notes due 2021 and 6.375% senior notes due 2023 at a make-whole premium, plus accrued and unpaid interest. Sunoco intends to use the proceeds from its previously announced sale of certain company-operated retail fuel outlets to 7-Eleven Inc. (the ‘7-Eleven Transaction’) to repay in full and terminate its existing senior secured term loan agreement, repay a portion of the outstanding borrowings under its existing $1.5 billion revolving credit facility, pay all closing costs and taxes in connection with the 7-Eleven Transaction, redeem all of its outstanding Series A Preferred Units and fund the repurchase of a portion of its outstanding common units.