NuStar Energy LP
Description
Entered unsecured term loan agreement with funds managed by Oaktree Capital Management LP. The three-year, 12% facility provides that NuStar will draw $500 million at closing and may elect to draw an additional $250 million under the facility during the first year. Proceeds will be used to pay down its revolving credit agreement and address near-term debt maturities. Intrepid Partners LLC was exclusive financial adviser. Sidley Austin LLP provided legal advice. Kirkland and Ellis was exclusive legal adviser to Oaktree.
NuStar Energy Bolsters Liquidity with $750 Million Loan from Oaktree