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NuStar raising $500M to pay down other debt

Jessica Corso
NuStar raising $500M to pay down other debt

San Antonio-based pipeline company NuStar Energy LP is looking to raise $500 million through a note offering, which it intends to use to repay debt. The notes will be used to help pay down the more than $1 billion in debt that company has borrowed through a revolving credit line. Money borrowed under the credit line is due Oct. 29, 2020, whereas the new senior unsecured notes won't become due until 2026.