Exhibit 5.1
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| | SIDLEY AUSTIN LLP 1000 LOUISIANA STREET SUITE 6000 HOUSTON, TX 77002 +1 713 495 4500 +1 713 495 7799 FAX AMERICA • ASIA PACIFIC • EUROPE |
May 22, 2019
NuStar Logistics, L.P.
19003IH-10 West
San Antonio, Texas 78257
| Re: | Registration Statement on FormS-3 |
Ladies and Gentlemen:
We refer to the Registration Statement on FormS-3, FileNo. 333-212338 (the “Registration Statement”), filed by NuStar Logistics, L.P., a Delaware limited partnership (“NuStar Logistics”), NuStar Energy L.P., a Delaware limited partnership (the “Partnership”), and NuStar Pipeline Operating Partnership L.P., a Delaware limited partnership (“NuPOP” and, together with the Partnership, the “Guarantors”), with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), which Registration Statement became effective upon filing pursuant to Rule 462(e) under the Securities Act. Pursuant to the Registration Statement, NuStar Logistics is issuing $500,000,000 aggregate principal amount of 6.00% Senior Notes due 2026 (the “Notes”). The Notes are guaranteed (the “Guarantees” and, together with the Notes, the “Securities”) by each of the Guarantors. The Securities are being issued under an Indenture dated as of July 15, 2002 (as amended by the Third Supplemental Indenture thereto, dated July 1, 2005, the “Base Indenture”) among NuStar Logistics, the Partnership, NuPOP and Wells Fargo Bank, National Association, as trustee (the “Trustee”), as supplemented by the Ninth Supplemental Indenture thereto, dated as of May 22, 2019, by and among NuStar Logistics, the Partnership, NuPOP and the Trustee (the Base Indenture, as so amended and supplemented, the “Indenture”). The Securities are to be sold by NuStar Logistics pursuant to an underwriting agreement dated May 16, 2019 (the “Underwriting Agreement”) among the Partnership, Riverwalk Logistics, L.P., a Delaware limited partner and the general partner of the Partnership (the “General Partner”), NuStar GP, LLC, a Delaware limited liability company and the general partner of the General Partner (“NuStar GP”), NuStar Logistics, NuPOP, NuStar GP, Inc., a Delaware corporation and the general partner of NuStar Logistics (“GP, Inc.”), NuStar Pipeline Company, LLC, a Delaware limited liability company and the general partner of NuPOP, and RBC Capital Markets, LLC, as representatives of the several underwriters named therein.
This opinion letter is being delivered in accordance with the requirements of Item 601(b)(5) of RegulationS-K under the Securities Act.
We have examined the Registration Statement, the Indenture, the Underwriting Agreement, the Securities in global form and the resolutions adopted by the board of directors of NuStar GP (the “Board”) and the pricing committee of the Board relating to the Registration
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