NuStar Logistics, L.P. Announces Pricing of Senior Notes

  NuStar Logistics, L.P. Announces Pricing of Senior Notes

Business Wire

SAN ANTONIO -- August 14, 2013

NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy
L.P. (NYSE: NS), today announced that it has priced $300 million principal
amount of 6.750% senior notes due February 1, 2021. The senior notes were
priced at 100% of par at a yield to maturity of 6.750%. The settlement date
for the offering is expected to be August 19, 2013, subject to customary
closing conditions. The notes will be fully and unconditionally guaranteed by
NuStar Energy, as parent guarantor, and NuStar Pipeline Operating Partnership
L.P. (NuPOP), a wholly owned operating subsidiary of NuStar Energy, as
affiliate guarantor. NuStar expects to receive aggregate net proceeds (before
expenses) of approximately $296.6 million from this offering, which it intends
to use for general partnership purposes, including the repayment of a portion
of the outstanding borrowings under NuStar Logistics’ revolving credit
facility. NuStar used such borrowings for general partnership purposes,
including capital expenditures, working capital requirements, the repayment of
the $250 million outstanding principal amount of NuPOP’s 5.875% senior notes
on June 3, 2013 and the repayment of the $229.9 million outstanding principal
amount of NuStar Logistics’ 6.05% senior notes on March 15, 2013.

J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and SunTrust Robinson
Humphrey, Inc. are acting as joint book-running managers for the offering.
Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co.,
Mitsubishi UFJSecurities (USA), Inc., Morgan Stanley & Co. LLC and U.S.
Bancorp Investments Inc.  are acting as senior co-managers for the offering
and BB&T Capital Markets, BBVA Securities Inc., BNP Paribas Securities Corp.,
Comerica Securities, Inc., Credit Suisse Securities (USA) LLC, RBS Securities
Inc. and SMBC Nikko Securities America, Inc. are acting as co-managers for the
offering. A copy of the prospectus supplement and accompanying base prospectus
relating to this offering may be obtained from any of the underwriters,
including J.P. Morgan Securities LLC, Attention: Investment Grade Syndicate
Desk - 3rd Floor, 383 Madison Avenue, New York, New York 10179, telephone:
(212) 834-4533; Mizuho Securities USA Inc., Attention: Debt Capital Markets,
320 Park Avenue, 12th Floor, New York, New York 10022, telephone: (866)
271-7403; and SunTrust Robinson Humphrey, Inc., Attention: Investment Grade
Debt Capital Markets, 3333 Peachtree Road, 11th Floor, Mail Code:
GA-ATLANTA-3947, Atlanta, Georgia 30326, telephone: (404) 926-5054. You may
also obtain these documents for free when they are available by visiting the
SEC’s website at www.sec.gov.

This news release does not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. The offering may
be made only by means of a prospectus and related prospectus supplement
meeting the requirements of Section 10 of the Securities Act of 1933, as
amended.

NuStar Energy L.P., a publicly traded master limited partnership based in San
Antonio, is one of the largest independent liquids terminal and pipeline
operators in the nation. The partnership currently has 8,621 miles of
pipeline; 87 terminal and storage facilities that store and distribute crude
oil, refined products and specialty liquids; and a 50% ownership in a joint
venture that owns a terminal and an asphalt refinery with a throughput
capacity of 74,000 barrels per day. The partnership’s combined system has
approximately 97 million barrels of storage capacity, and NuStar has
operations in the United States, Canada, Mexico, the Netherlands, including
St. Eustatius in the Caribbean, the United Kingdom and Turkey.

This press release includes forward-looking statements regarding future
events. All forward-looking statements are based on the partnership’s beliefs
as well as assumptions made by and information currently available to the
partnership. These statements reflect the partnership’s current views with
respect to future events and are subject to various risks, uncertainties and
assumptions. These risks, uncertainties and assumptions are discussed in
NuStar Energy L.P.’s 2012 annual report on Form 10-K and subsequent filings
with the Securities and Exchange Commission.

Contact:

NuStar Energy, L.P., San Antonio
Investors, Chris Russell, Treasurer and Vice President Investor Relations
Investor Relations: 210-918-3507
or
Media, Mary Rose Brown, Executive Vice President,
Corporate Communications: 210-918-2314
Web site: http://www.nustarenergy.com