NuStar Logistics LP, (which is a wholly owned operating subsidiary of NuStar Energy LP), has announced it has launched a conversion of the interest rate period and remarketing of approximately $322 million aggregate principal amount of Parish of St. James, State of Louisiana Revenue Bonds, previously issued by the Parish of St. James, State of Louisiana. 

In a statement, it said following the conversion and remarketing, the interest rate period on the Bonds will be a long-term fixed rate to maturity or a period to be specified later by the company. 

The company said it will “continue to be obligated to service the principal and interest payments associated with the Bonds and following the conversion, the Company’s obligations will be guaranteed by NuStar Energy and NuStar Pipeline Operating Partnership LP.”

This conversion and remarketing will not increase the Company’s indebtedness. J.P. Morgan Securities LLC will act as the lead remarketing agent for the reoffering.

It said terms of the Bonds and the reoffering thereof will be as described in the reoffering circular relating to the Bonds, which will be available on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access system, no later than seven business days after the pricing of the Bonds.

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9th March 2020