Sunoco LPand Sunoco Finance Corp. registered$1.6 billion of senior notes for planned exchange offers.
Sunoco is offering to exchange $800 million of its unregistered6.375% senior notes due 2023 for the same amount of registered 6.375% senior notesdue 2023. The registered notes will represent the same debt and will be issued underthe same indenture as the 2023 unregistered notes.
Sunoco also intends to do the same with its 6.250% senior notesdue 2021, offering to exchange it for essentially identical, though registered,6.250% senior notes due 2021. The registered notes will represent the same debtand will be issued under the same indenture as the 2021 unregistered notes, accordingto Sunoco's Form S-4 filed July 22.
An expiration datefor each exchange offer is yet to be set. However, the maturity dates have alreadybeen laid out, with the 2023 registered notes expected to mature April 1, 2023,and the 2021 registered notes maturing April 15, 2021.
The partnership will not receive any cash proceeds from the exchangeoffers, which are intended to satisfy its obligations under its registration rightsagreements.