DEBT Narrative 3 (Details) - USD ($) $ in Thousands |
9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
|
| GoZone Bonds [Member] | |||
| Debt Instrument [Line Items] | |||
| Debt instrument, description | Interest on the GoZone Bonds accrues from June 3, 2020 and is payable semi-annually on June 1 and December 1 of each year, beginning December 1, 2020. The holders of the Series 2008, Series 2010B and Series 2011 GoZone Bonds are required to tender their bonds at the applicable mandatory purchase date in exchange for 100% of the principal plus accrued and unpaid interest, after which these bonds will potentially be remarketed with a new interest rate established. Each of the Series 2010 and Series 2010A GoZone Bonds is subject to redemption on or after June 1, 2030 by the Parish of St. James, at our option, in whole or in part, at a redemption price of 100% of the principal amount to be redeemed plus accrued interest. The Series 2008, Series 2010B and Series 2011 GoZone Bonds are not subject to optional redemption. NuStar Logistics’ agreements with the Parish of St. James related to the GoZone Bonds contain (i) customary restrictive covenants that limit the ability of NuStar Logistics and its subsidiaries, to, among other things, create liens or enter into sale-leaseback transactions, consolidations, mergers or asset sales and (ii) a change of control provision that provides each holder the right to require the trustee, with funds provided by NuStar Logistics, to repurchase all or a portion of that holder’s GoZone Bonds upon a change of control at a price equal to 101% of the aggregate principal amount repurchased, plus any accrued and unpaid interest. | ||
| Long-term debt | $ 322,140 | $ 365,400 | |
| Revolving Credit Agreement [Member] | |||
| Debt Instrument [Line Items] | |||
| Maximum borrowing capacity | 1,000,000 | $ 1,200,000 | |
| Letters of credit outstanding, amount | 4,100 | ||
| Long-term debt | $ 0 | ||
| Line of credit facility, interest rate description | The interest rate on the Revolving Credit Agreement is subject to adjustment if our debt rating is downgraded (or upgraded) by certain credit rating agencies. In August of 2020, Moody’s Investor Service Inc. downgraded our credit rating from Ba2 to Ba3. This rating downgrade caused the interest rate on our Revolving Credit Agreement to increase by 0.25% effective August 2020. The Revolving Credit Agreement is the only debt arrangement with an interest rate that is subject to adjustment if our debt rating is downgraded (or upgraded) by certain credit rating agencies. | ||
| Line of credit facility, covenant terms | For the rolling period of four quarters ending September 30, 2020, the consolidated debt coverage ratio (as defined in the Revolving Credit Agreement) could not exceed 5.00-to-1.00 and the consolidated interest coverage ratio (as defined in the Revolving Credit Agreement) must not be less than 1.75-to-1.00. | ||
| Current remaining borrowing capacity | $ 995,900 | ||
| Receivables Financing Agreement [Member] | |||
| Debt Instrument [Line Items] | |||
| Maximum borrowing capacity | 100,000 | $ 125,000 | |
| Long-term debt | $ 60,500 | ||
| Weighted average interest rate | 2.30% | ||
| Debt instrument, collateral amount | $ 94,500 |