05:54 PM EDT, 04/16/2024 (MT Newswires) -- Sunoco ( SUN ) said late Tuesday it priced a $1.50 billion private offering of senior notes in two tranches at 100% of face value.

The offering comprises $750 million of 7% notes due 2029 and $750 million of 7.25% notes due 2032.

The company expects the offering to close April 30 and plans to use the net proceeds to repay certain outstanding debt of NuStar Energy ( NS ) in connection with a pending merger between the companies, among other uses.