Energy Transfer Partners, L.P. yesterday announced the pricing of its US$500 million aggregate principal amount of 4.20% senior notes due 2023, US$1.0 billion aggregate principal amount of 4.95% senior notes due 2028, US$500 million aggregate principal amount of 5.80% senior notes due 2038 and US$1.0 billion aggregate principal amount of 6.00% senior notes due 2048 at a price to the public of 99.926%, 99.819%, 99.647% and 98.900%, respectively, of their face value.
The sale of the senior notes is expected to settle on 8 June 2018, subject to the satisfaction of customary closing conditions. ETP intends to use the net proceeds of approximately US$2 963 055 000 from this offering to repay in full its 2.50% senior notes due 15 June 2018 and 6.70% senior notes due 1 July 2018 and its subsidiary’s 7.00% senior notes due 15 June 2018, to repay borrowings outstanding under its revolving credit facility and for general partnership purposes.
Mizuho Securities USA LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc. and TD Securities (USA) 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 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.
You may obtain these documents for free when they are available by visiting EDGAR on the SEC website.
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