NuStar Energy public offering brings in $289M

AP News
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Posted: Nov 13, 2009 4:20 PM

NuStar Energy LP said Friday it closed a public offering of around 5.8 units of $52.45 per share, which brought in $289 million.

There were 750,000 shares sold to the underwriters, and total proceeds from the sale were $289 million, including the additional common units sold.

Funds will be used for general corporate purposes, including possible future acquisitions and capital expenditures.

Morgan Stanley & Co., UBS Securities, Credit Suisse Securities and Wells Fargo Securities acted as joint book-running managers of the offering.