Regency raises US$ 400 million of common equity
Regency Energy Partners LP, announced that it sold 14.4 million common units to ETE Common Holdings, LLC, a wholly owned subsidiary of Energy Transfer Equity, LP, which owns the general partner of Regency, for US$ 400 million.
Proceeds from the issuance will be used to pay down borrowings on the Partnership’s revolving credit facility, to redeem certain senior notes of the Partnership and for general partnership purposes.
Regency Energy Partners LP is a growth-oriented, master limited partnership engaged in the gathering and processing, compression, treating and transportation of natural gas; the transportation, fractionation and storage of natural gas liquids; the gathering, transportation and terminaling of oil (crude and/or condensate) received from producers; and the management of coal and natural resource properties in the US.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/business-news/06062014/regency-raises-us-400-million-of-common-equity/
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