Energy Transfer Partners Announces Common Unit Offering
August 14 2017 - 4:17PM
Business Wire
Energy Transfer Partners, L.P. (NYSE: ETP) today
announced it has commenced a public offering of 54,000,000 common
units representing limited partner interests, with a 30-day option
for the underwriter to purchase up to an additional 8,100,000
common units. Net proceeds from the offering will be used by ETP to
repay amounts outstanding under its revolving credit facilities, to
fund capital expenditures and for general partnership purposes.
ETP expects that the offering will eliminate the need for
additional equity issuances through mid-2018 (excluding offerings
under its distribution reinvestment plan and potential joint
venture equity participations), in order to fund its current
portfolio of development projects.
Barclays Capital Inc. is acting as sole book-running manager for
the offering.
A copy of the preliminary prospectus supplement and accompanying
prospectus relating to the offering may be obtained by contacting
Barclays at:
Barclays Capital Inc.c/o Broadridge Financial Solutions1155 Long
Island AvenueEdgewood, NY 11717Telephone: (888) 603-5847Email:
barclaysprospectus@broadridge.com
You may also obtain these documents for free when they are
available by visiting EDGAR on the Securities and Exchange
Commission, or 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. The offering 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. The offering will be made pursuant to an
effective shelf registration statement and prospectus filed by ETP
with the SEC.
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.
Strategically positioned in all of the major U.S. production
basins, ETP owns and operates a geographically diverse portfolio of
complementary natural gas midstream, intrastate and interstate
transportation and storage assets; crude oil, natural gas liquids
(NGL) and refined product transportation and terminalling assets;
NGL fractionation; and various acquisition and marketing assets.
ETP’s general partner is owned by Energy Transfer Equity, L.P.
(NYSE: ETE). For more information, visit the Energy Transfer
Partners, L.P. website at www.energytransfer.com.
Statements about the offering may be forward-looking statements
as defined under federal law. Forward-looking statements can be
identified by words such as “anticipates,” “believes,” “expects,”
“estimates,” “forecasts,” “projects,” “should” 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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Energy Transfer Partners, L.P.Investor Relations:Lyndsay
Hannah, Brent Ratliff, Helen Ryoo, 214-981-0795orMedia
Relations:Vicki Granado, Lisa Dillnger, 214-840-5820
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