Williams Partners Announces Redemption of 4.875% Senior Notes due 2024
February 26 2018 - 4:20PM
Business Wire
Williams Partners L.P. (NYSE: WPZ) and ACMP Finance Corp.
(collectively, the “Issuers”) announced today that they have issued
a notice of redemption (the “Notice of Redemption”) to holders of
the Issuers’ 4.875% Senior Notes due 2024 (the “Notes”), stating
that the Issuers will redeem all of the outstanding Notes for cash
on March 28, 2018 (the “Redemption Date”) at a redemption price
equal to the sum of the principal amount of the Notes plus the
excess, if any, of (a) the present value at such time of (i) the
redemption price of such Note at March 15, 2019 (as set forth in
the indenture governing the Notes (the “Indenture”)) plus (ii) any
required interest payments due on such Note through March 15, 2019
(except for currently accrued and unpaid interest), computed using
a discount rate equal to the Treasury Rate (as defined in the
Indenture) plus 50 basis points, discounted to the Redemption Date
on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months), over (b) the principal amount of such Note,
plus accrued and unpaid interest, if any, to the Redemption Date.
The Issuers will calculate the Treasury Rate no later than the
second Business Day (as defined in the Indenture) preceding the
Redemption Date.
The terms and conditions of the redemption are fully described
in the Notice of Redemption. Beneficial holders with any
questions about the redemption should contact their respective
brokerage firm or financial institution.
This press release is for informational purposes only and does
not constitute an offer to purchase the Notes or any other
securities.
About Williams Partners
Williams Partners is an industry-leading, large-cap natural gas
infrastructure master limited partnership with a strong growth
outlook and major positions in key U.S. supply basins. Williams
Partners has operations across the natural gas value chain
including gathering, processing and interstate transportation of
natural gas and natural gas liquids. Williams Partners owns and
operates more than 33,000 miles of pipelines system wide –
including the nation’s largest volume and fastest growing pipeline
– providing natural gas for clean-power generation, heating and
industrial use. Williams Partners’ operations touch approximately
30 percent of U.S. natural gas. Tulsa, Okla.-based Williams (NYSE:
WMB), a premier provider of large-scale U.S. natural gas
infrastructure, owns approximately 74 percent of Williams
Partners.
Portions of this document may constitute “forward-looking
statements” as defined by federal law. Although the partnership
believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially
different. Additional information about issues that could lead to
material changes in performance is contained in the partnership’s
annual and quarterly reports filed with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20180226006538/en/
Williams PartnersMedia Contact:Keith Isbell,
918-573-7308orInvestor Contact:Brett Krieg, 918-573-4614
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