Energy Transfer Partners Announces Pricing of $2.25 Billion of Senior Notes
September 19 2017 - 8:17PM
Business Wire
Energy Transfer Partners, L.P. (NYSE: ETP) today announced the
pricing of $750 million aggregate principal amount of 4.00% senior
notes due 2027 of its wholly owned subsidiary, Sunoco Logistics
Partners Operations L.P. (the “Operating Partnership”) and $1.50
billion aggregate principal amount of 5.40% senior notes due 2047
of the Operating Partnership at a price to the public of 99.216%
and 99.806%, respectively, of their face value.
The sale of the senior notes is expected to settle on September
21, 2017, subject to the satisfaction of customary closing
conditions. ETP intends to use the net proceeds of approximately
$2.223 billion from this offering to redeem all of the $500 million
aggregate principal amount of Energy Transfer, LP’s 6.5% senior
notes due 2021, repay borrowings outstanding under the Operating
Partnership’s revolving credit facility and for general partnership
purposes.
Deutsche Bank Securities Inc., PNC Capital Markets LLC, U.S.
Bancorp Investments, Inc. and Wells Fargo Securities, LLC are
acting as joint book-running managers for the offering.
The offering of the senior notes is being made pursuant to an
effective shelf registration statement and prospectus filed by ETP
and the Operating Partnership 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:
Deutsche Bank Securities Inc.60 Wall StreetNew York, NY
10005-2836Attention: Prospectus GroupPhone: 1-800-503-4611E-mail:
prospectus.cpdg@db.com
PNC Capital Markets LLCThe Tower at PNC Plaza300 Fifth
AvenuePittsburgh, PA 15222Attn: Kathleen RileyPhone:
1-855-881-0697Email: Kathleen.Riley@pnc.com
U.S. Bancorp Investments, Inc.214 N. Tryon St., 26th
FloorCharlotte, NC 28202Attention: Credit Fixed IncomePhone:
1-877-558-2607
Wells Fargo Securities, LLC608 2nd Avenue SouthMinneapolis, MN
55402Attn: WFS Customer ServicePhone: 1-800-645-3751E-mail:
wfscustomerservice@wellsfargo.com
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.
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.
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/20170919006737/en/
Investor Relations:Energy TransferBrent Ratliff, Lyndsay
Hannah, Helen Ryoo, 214-981-0795orMedia Relations:Vicki
Granado, Lisa Dillinger, 214-840-5820
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