Transco Commences Registered Exchange Offer for Its 4.000% Senior Notes Due 2028 and 4.600% Senior Notes Due 2048
August 22 2018 - 10:15AM
Business Wire
Transcontinental Gas Pipe Line Company, LLC (“Transco”), a
wholly owned subsidiary of The Williams Companies, Inc. (NYSE:
WMB), announced today that it has commenced an offer to exchange
any and all of its $400 million in aggregate principal amount
of outstanding 4.000 percent Senior Notes due 2028 (the “Original
2028 Notes”) and $600 million in aggregate principal amount of
outstanding 4.600 percent Senior Notes due 2048 (the “Original 2048
Notes” and, together with the Original 2028 Notes, the “Original
Notes”) for an equal amount of the applicable series of its
registered 4.000 percent Senior Notes due 2028 (the “2028 Exchange
Notes”) and 4.600 percent Senior Notes due 2048 (the “2048 Exchange
Notes” and, together with the 2028 Exchange Notes, the “Exchange
Notes”).
The terms of the Exchange Notes are identical in all material
respects to those of the applicable series of the Original Notes,
except that the Exchange Notes have been registered under the
Securities Act of 1933, as amended, and the transfer restrictions,
restrictive legends, registration rights and additional interest
provisions relating to the Original Notes do not apply to the
Exchange Notes. The purpose of the Exchange Offer is to fulfill
Transco’s obligations under the registration rights agreement
entered into in connection with the issuance of the Original
Notes. Transco will not receive any proceeds from the exchange
offer.
The exchange offer will expire at 5:00 p.m. Eastern
Daylight Time (EDT) on Sept. 20, 2018, unless extended (such
date and time, as may be extended, the “Expiration Date”). The
settlement date for the exchange offer will occur promptly
following the Expiration Date. The terms of the exchange offer and
other information relating to Transco and the Exchange Notes are
set forth in a prospectus dated Aug. 22, 2018, a copy of which has
been filed with the Securities and Exchange Commission. Transco has
not authorized any person to provide information other than as set
forth in the prospectus.
Copies of the prospectus and the transmittal letter governing
the exchange offer can be obtained from the exchange agent, The
Bank of New York Mellon Trust Company, N.A., by faxing a request to
(732) 667-9408 or by writing via regular or certified mail, or
overnight courier, to The Bank of New York Mellon Trust Company,
N.A., Corporate Trust Operations—Reorganization Unit, 111 Sanders
Creek Parkway, East Syracuse, New York 13057.
This press release is for informational purposes only and does
not constitute an offer to sell nor a solicitation of an offer to
buy any security. The exchange offer is being made solely pursuant
to the prospectus dated Aug. 22, 2018, including any supplements
thereto, and only to such persons and in such jurisdictions as is
permitted under applicable law.
About Williams
Williams (NYSE: WMB) is a premier provider of large-scale
infrastructure connecting U.S. natural gas and natural gas products
to growing demand for cleaner fuel and feedstocks. Headquartered in
Tulsa, Okla., Williams is an industry-leading, investment grade
C-Corp with operations across the natural gas value chain including
gathering, processing, interstate transportation and storage of
natural gas and natural gas liquids. With major positions in top
U.S. supply basins, Williams 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’
operations touch approximately 30 percent of U.S. natural gas.
www.williams.com
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: https://www.businesswire.com/news/home/20180822005416/en/
WilliamsMedia Contact:Keith Isbell,
918-573-7308orInvestor Contacts:John Porter,
918-573-0797orPaul Schroedter, 918-573-9673
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