PHILADELPHIA, Sept. 23 /PRNewswire-FirstCall/ -- Sunoco, Inc. (NYSE: SUN)
today announced that it has priced $250 million of Senior Notes due October
15, 2014. The Notes were priced at 99.918% of par with a coupon of 4-7/8% at
a yield to maturity of 4.885%. Citigroup Global Markets Inc. and Credit
Suisse First Boston LLC acted as Joint Book-Running Managers and J.P. Morgan
Securities Inc. acted as Senior Co-Manager for this transaction.
(Logo: http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006 )
Proceeds of the offering will be used to fund the approximately $240
million principal amount of debt tendered yesterday at a price of
approximately $270 million, including accrued but unpaid interest, as
previously announced. Citigroup Global Markets Inc., Credit Suisse First
Boston LLC and J.P. Morgan Securities Inc. acted as Dealer Managers for the
tender offers.
This bond offering and the tender offers are expected to close September
28, 2004.
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 believes that its 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 makes these forward-looking
statements in good faith, Sunoco cannot 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.
 back to top
Related links:
http://www.SunocoInc.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/829144.html
CONTACT:
Jerry Davis (media), +1-215-977-6298 or Terry
Delaney (investors), +1-215-977-6106, both of Sunoco
|
