Energy Transfer Partners to Issue $2 Billion in US Debt Markets Monday-Source

Date : 01/09/2012 @ 10:52AM
Source : Dow Jones News
Stock : Southern Union Company Common Stock (SUG)
Quote : 41.1  0.0 (0.00%) @ 2:05AM

Energy Transfer Partners to Issue $2 Billion in US Debt Markets Monday-Source

Sunoco Logistics Partners L.P. (NYSE:ETP)
Historical Stock Chart

5 Years : From Oct 2012 to Oct 2017

Click Here for more Sunoco Logistics Partners L.P. Charts.

Energy Transfer Partners LP (ETP) plans to issue a $2 billion, two-part bond deal in the U.S. credit markets Monday, according to a person familiar with the matter.

Energy Transfer Partners is raising money in connection with its 50% acquisition of Citrus Corp., owner of the Florida Gas Transmission pipeline system.

The deal is to feature 10- and 30-year senior unsecured notes, which are expected to be rated Baa3 from Moody's Investors Service and BBB-minus from Standard & Poor's and Fitch Ratings. The deal is registered with the Securities and Exchange Commission.

The bonds features a special mandatory redemption at 101 cents on the dollar in the event that acquisition isn't consummated on or before April 2012.

Lead underwriters are Credit Suisse, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities.

Energy Transfer Partners and Energy Transfer Equity LP reported on July 19 that they had signed an amended definitive agreement to acquire an indirect 50% interest in Citrus Corp, for $2 billion.

Citrus Corp. is currently jointly owned by Southern Union Company (SUG) and El Paso Corp. (EP).

-By Patrick McGee, Dow Jones Newswires; 212-416-2382; patrick.mcgee@dowjones.com

Latest SUG Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.