Sunoco 2012 Annual Report Download - page 91
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10. Debt
The components of the Partnership’s long-term debt balances are as follows:
Successor Predecessor
December 31,
2012
December 31,
2011
(in millions) (in millions)
Credit Facilities
$350 million Credit Facility, due August 2016 ......................... $ 93 $ —
$200 million Credit Facility, due August 2013 ......................... 26 —
$35 million Credit Facility, due April 2015 ........................... 20 —
Senior Notes
Senior Notes - 7.25%, due February 2012 ............................. — 250
Senior Notes - 8.75%, due February 2014 ............................. 175 175
Senior Notes - 6.125%, due May 2016 ............................... 175 175
Senior Notes - 5.50%, due February 2020 ............................. 250 250
Senior Notes - 4.65%, due February 2022 ............................. 300 300
Senior Notes - 6.85%, due February 2040 ............................. 250 250
Senior Notes - 6.10%, due February 2042 ............................. 300 300
Unamortized fair value adjustments (Note 1) .......................... 143 —
Total debt .................................................. 1,732 1,700
Less:
Unamortized bond discount .................................... — (2)
Current portion of long-term debt (1) ............................. — (250)
Long-term debt .......................................... $1,732 $1,448
(1) Amounts outstanding under the Partnership’s credit facilities at December 31, 2012 have been classified as
long-term debt as the Partnership has the intent and ability to refinance such borrowings on a long-term
basis.
The aggregate amount of long-term debt maturities is as follows:
Year Ended December 31, (in millions)
2013 (1) .......................................... $ 119
2014 ............................................ 175
2015 ............................................ 20
2016 ............................................ 175
2017 ............................................ —
Thereafter ....................................... 1,100
Total ....................................... $1,589
(1) Consists of amounts outstanding under the Partnership’s $350 and $200 million credit facilities at
December 31, 2012 that were repaid in connection with the January 2013 senior notes offering (see below).
Cash payments for interest related to long-term debt, net of capitalized interest (Note 2), were $2, $87, $73
and $59 million for the periods from October 5, 2012 to December 31, 2012, from January 1, 2012 to October 4,
2012, and for the years ended December 31, 2011 and 2010, respectively.
Promissory Note, Affiliated Companies
During the third quarter of 2010, the Operating Partnership entered into a subordinated $100 million
variable rate promissory note due to Sunoco in May 2013. The note bore interest at three-month LIBOR plus
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