Sunoco Prices $1.9 Billion Senior Notes Offering to Support Parkland Acquisition

Sunoco LP has priced $1.9 billion in senior notes to help fund its planned Parkland acquisition, upsizing the deal from $1.7 billion. Proceeds will support the purchase, debt repayment, and general corporate purposes.

(P&GJ) — Sunoco LP has priced an upsized private offering of $1.9 billion in senior notes, with proceeds earmarked to help fund its planned acquisition of Parkland Corporation.

The offering includes $1 billion of 5.625% senior notes due 2031 and $900 million of 5.875% senior notes due 2034. The deal was increased from an initial $1.7 billion. Settlement is expected on Sept. 18, 2025, subject to customary closing conditions.

Sunoco said it plans to use proceeds, along with funds from its previously announced preferred equity offering, to cover a portion of the Parkland acquisition costs and related expenses. Any remaining proceeds will go toward general corporate purposes. Prior to the acquisition’s completion, the company may temporarily use the funds to reduce borrowings under its revolving credit facility.

If the Parkland acquisition is not completed by May 5, 2026, or if the deal is terminated before then, the notes will be subject to a special mandatory redemption at 100% of the issue price plus accrued interest.

The notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act and to non-U.S. persons under Regulation S.