Williams Partners 7 Million Offering Priced At 3.1% Discount

Date : 01/25/2012 @ 9:50AM
Source : Dow Jones News
Stock : Williams Partners, L.P. Common Units Representing Limited Partner Interests (WPZ)
Quote : 40.75  -0.48 (-1.16%) @ 4:02PM

Williams Partners 7 Million Offering Priced At 3.1% Discount

Williams Partners (NYSE:WPZ)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Williams Partners Charts.

Williams Partners L.P.'s (WPZ) public offering of 7 million units priced at a 3.1% discount to Tuesday's closing price.

Shares were down 3.5% at $62.60 premarket, below the offer price of $62.81.

Williams Partners, the midstream asset-holder of Williams Cos. (WMB), said it plans to use the money raised for capital expenditures and other general corporate needs. Some of the offering's proceeds likely will be used to help fund its planned acquisition of Laser Northeast Gathering System, it said.

Williams said it will make a cash contribution to Williams Partners to maintain its 2% general-partner interest in the partnership. As a result of the offering, Williams' limited-partner interest in Williams Partners will be reduced to approximately 72% from its current level of approximately 73%.

Williams Partners had 290.5 million common units outstanding as of Nov. 1.

In November, Williams Partners reported an increase in its bottom line for the third quarter on wider margins and higher pipeline fees. Last month, the company said it agreed to acquire Laser Northeast Gathering System and other assets in the Marcellus shale from Delphi Midstream Partners LLC in a deal valued at roughly $750 million.

-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com




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.