(Reuters) - Sunoco LP's (SUN.N) bondholders are creating a stumbling block for the company's deal to sell more than 1,100 gas stations and convenience stores to 7-Eleven Inc [SILC.UL] for $3.3 billion, Bloomberg reported on Friday. (bloom.bg/2iaXI3U)
A group of creditors has told Sunoco it intends to oppose the company’s attempt to change the terms of the credit pact governing about $1.6 billion of bonds – a step Sunoco has said is needed to complete the sale, Bloomberg reported, citing a letter it saw.
The debtholders are demanding more money and better protections to agree to the changes in the bond indentures, Bloomberg reported, citing a person familiar with the matter.
Sunoco was not immediately available for a comment.
The company announced the deal to sell the 1,000 convenience stores to 7-Eleven’s U.S. unit in April to focus on its fuel supply business.
Sunoco’s shares fell as much as 5 percent $30.73 on Friday.
Reporting by John Benny in Bengaluru; Editing by Savio D'Souza