Williams Partners’ Transco Prices Private Debt Issuance
March 08 2018 - 4:40PM
Business Wire
Transcontinental Gas Pipe Line Company, LLC (“Transco”), a
wholly owned subsidiary of Williams Partners L.P. (NYSE: WPZ),
announced that it has priced its previously announced offering of
senior notes.
The $400 million in aggregate principal amount of senior notes
due 2028 were priced with a 4.000 percent coupon and at an offering
price of 99.446 percent of par, with a yield to investors of 4.068
percent. The $600 million in aggregate principal amount of senior
notes due 2048 were priced with a 4.600 percent coupon and at an
offering price of 99.276 percent of par, with a yield to investors
of 4.645 percent. Each series of notes is scheduled to be delivered
on March 15, 2018, subject to the satisfaction of customary closing
conditions.
Transco intends to use the net proceeds from the offering to
repay indebtedness, including Transco’s $250 million of 6.05%
senior notes due 2018 upon their maturity on June 15, 2018, and for
general corporate purposes, including the funding of capital
expenditures.
The notes will be offered pursuant to certain exemptions from
registration under the Securities Act of 1933, as amended (the
“Securities Act”). The offering of the notes has not been
registered under the Securities Act or applicable state securities
laws. The notes may not be offered or sold in the United States
absent registration or an applicable exemption from such
registration requirements.
This press release is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy the notes described in this press release, nor shall there be
any sale of the notes in any state or jurisdiction in which such an
offer, sale or solicitation would be unlawful prior to registration
or qualification under the securities laws of such
jurisdiction.
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 Transco 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 Transco’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/20180308006342/en/
Williams Partners L.P.Media Contact:Keith Isbell,
918-573-7308orInvestor Contact:Brett Krieg, 918-573-4614
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