PHILADELPHIA, Sept. 22 /PRNewswire-FirstCall/ -- Sunoco, Inc. (NYSE: SUN)
today announced the results of its tender offer for any and all of the
outstanding principal amount of its 9-3/8% Sinking Fund Debentures due 2016,
redeemable in 2006, and the tender offer of Aristech Chemical Corporation, its
wholly owned subsidiary, for any and all of its 6-7/8% Notes due 2006. The
offers commenced on September 15, 2004, and expired at 5:00 p.m., New York
City time today. The depositary agent, Global Bondholder Services
Corporation, has informed us that an aggregate principal amount of
$143,548,000 of the Debentures were tendered in Sunoco's offer and that an
aggregate principal amount of $96,245,000 of Notes were tendered in Aristech's
offer. The total amount of principal repurchased through the tender offers was
$239,793,000.
Citigroup Global Markets Inc., Credit Suisse First Boston LLC, and J.P.
Morgan Securities Inc. acted as Dealer Managers for the tender offer.
Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer
and marketer of petroleum and petrochemical products. With 890,000 barrels
per day of refining capacity, over 4,800 retail sites selling gasoline and
convenience items, over 4,500 miles of crude oil and refined product owned and
operated pipelines and 37 product terminals, Sunoco is one of the largest
independent refiner-marketers in the United States. Sunoco is a significant
manufacturer of petrochemicals with annual sales of approximately five billion
pounds, largely chemical intermediates used to make fibers, plastics, film and
resins. Utilizing a unique, patented technology, Sunoco also manufactures two
million tons annually of high-quality metallurgical-grade coke for use in the
steel industry. For additional information visit Sunoco's Web site at
http://www.SunocoInc.com.
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Sunoco and Aristech believe that their expectations are
based on reasonable assumptions. No assurance, however, can be given that
their goals will be achieved. A number of factors could cause actual results
to differ materially from the projections, anticipated results or other
expectations expressed in this release. While Sunoco and Aristech make these
forward-looking statements in good faith, neither Sunoco nor Aristech can
guarantee that the anticipated future results will be achieved. Risks and
uncertainties concerning Sunoco's business are more fully described in
Sunoco's Form 10-Q, filed with the Securities and Exchange Commission on
August 4, 2004. Sunoco undertakes no obligation to update any forward-looking
statements in this news release whether as a result of new information or
future events.
SOURCE Sunoco, Inc.
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Related links:
http://www.SunocoInc.com
Company News On-Call:
http://www.prnewswire.com/comp/829144.html
CONTACT:
Media, Jerry Davis, +1-215 977 6298, or
Investors, Terry Delaney, +1-215-977-6106, both of Sunoco
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