Energy Transfer Partners Announces Pricing of $1.5 Billion of Senior Notes
January 11 2017 - 7:25PM
Business Wire
Energy Transfer Partners, L.P. (NYSE: ETP) today
announced the pricing of $600 million aggregate principal amount of
its 4.20% senior notes due 2027 and $900 million aggregate
principal amount of its 5.30% senior notes due 2047, at a price to
the public of 99.786% and 99.483%, respectively, of their face
value.
The sale of the senior notes is expected to settle on January
17, 2017, subject to customary closing conditions. ETP intends to
use the net proceeds of approximately $1.48 billion from this
offering to refinance current maturities and to repay borrowings
outstanding under ETP’s revolving credit facility. Merrill Lynch,
Pierce, Fenner & Smith Incorporated, MUFG Securities Americas
Inc. and TD Securities (USA) LLC are acting as joint book-runners
for the offering.
The offering of the senior notes is being made pursuant to an
effective shelf registration statement and prospectus filed by ETP
with the Securities and Exchange Commission (“SEC”). The offering
of the senior notes may be made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section
10 of the Securities Act of 1933, as amended, copies of which may
be obtained from the following addresses:
Merrill Lynch, Pierce, Fenner & Smith Incorporated200 North
College StreetNC1-004-03-43Charlotte, NC 28255-0001Attention:
Prospectus DepartmentToll-free: 1-800-294-1322E-mail:
dg.prospectus_requests@baml.com
MUFG Securities Americas Inc.1221 Avenue of the Americas, 6th
FloorNew York, New York 10020Attn: Capital Markets GroupPhone: 1
(877) 649-6848Fax: (646) 434-3455
TD Securities USA LLC31 West 52nd Street, 2nd FloorNew York, New
York 10019Attn: Investment Grade Debt Capital MarketsPhone: 1 (855)
495-9846Fax: (212) 827-7284
You may also obtain these documents for free when they are
available by visiting EDGAR on the SEC web site at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Energy Transfer Partners
Energy Transfer Partners, L.P. (NYSE: ETP) is a master
limited partnership that owns and operates one of the largest and
most diversified portfolios of energy assets in the United States.
ETP’s subsidiaries include Panhandle Eastern Pipe Line Company, LP
(the successor of Southern Union Company) and Lone Star NGL LLC,
which owns and operates natural gas liquids storage, fractionation
and transportation assets. In total, ETP currently owns and
operates more than 62,500 miles of natural gas and natural gas
liquids pipelines. ETP also owns the general partner, 100% of the
incentive distribution rights, and approximately 67.1 million
common units of Sunoco Logistics Partners L.P. (NYSE: SXL), which
operates a geographically diverse portfolio of pipelines,
terminalling and acquisition and marketing assets. ETP recently
acquired the general partner, 100% of the incentive distribution
rights, and an approximate 65% limited partnership interest in
PennTex Midstream Partners, LP (Nasdaq: PTXP), which is a
growth-oriented master limited partnership that provides natural
gas gathering and processing and residue gas and natural gas
liquids transportation services to producers in northern Louisiana.
ETP’s general partner is owned by Energy Transfer Equity, L.P.
(NYSE: ETE).
Statements about the offering may be forward-looking statements.
Forward-looking statements can be identified by words such as
“anticipates,” “believes,” “intends,” “projects,” “plans,”
“expects,” “continues,” “estimates,” “goals,” “forecasts,” “may,”
“will” and other similar expressions. These forward-looking
statements rely on a number of assumptions concerning future events
and are subject to a number of uncertainties and factors, many of
which are outside the control of ETP, and a variety of risks that
could cause results to differ materially from those expected by
management of ETP. Important information about issues that could
cause actual results to differ materially from those expected by
management of ETP can be found in ETP’s public periodic filings
with the SEC, including its Annual Report on Form 10-K. ETP
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time.
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version on businesswire.com: http://www.businesswire.com/news/home/20170111006181/en/
Investor Relations:Energy TransferBrent Ratliff or
Lyndsay Hannah, 214-981-0795orMedia Relations:Granado
Communications GroupVicki Granado, 214-599-8785Cell:
214-498-9272
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