Sunoco LP (Sunoco) announced a private offering of senior notes due 2023, senior notes due 2026 and senior notes due 2028 (collectively, the "notes") in an aggregate principal amount of $1.75 billion. Sunoco Finance Corp. will serve as co-issuer of the notes. Sunoco intends to use the net proceeds from the offering, together with the consideration it receives from its previously announced sale of certain company-operated retail fuel outlets to 7-Eleven Inc. (the "7-Eleven Transaction"), to (i) redeem in full (a) its 5.500% senior notes due 2020 at a call premium of 102.750% plus accrued and unpaid interest, and (b) each of its 6.250% senior notes due 2021 and 6.375% senior notes due 2023 at a make-whole premium plus accrued and unpaid interest, (ii) repay in full and terminate its existing senior secured term loan agreement, (iii) repay a portion of the outstanding borrowings under its existing $1.5 billion revolving credit facility, (iv) pay all closing costs and taxes in connection with the 7-Eleven Transaction, (v) redeem all of its outstanding Series A Preferred Units and (vi) fund the repurchase of a portion of its outstanding common units.