Energy Transfer Partners Announces Pricing of $3.0 Billion of Senior Notes
June 18 2015 - 10:40PM
Business Wire
Energy Transfer Partners, L.P. (NYSE: ETP) today announced the
pricing of $650 million aggregate principal amount of its 2.500%
senior notes due 2018, $350 million aggregate principal amount of
its 4.150% senior notes due 2020, $1.0 billion aggregate principal
amount of its 4.750% senior notes due 2026 and $1.0 billion
aggregate principal amount of its 6.125% senior notes due 2045, at
a price to the public of 99.946%, 103.113% (plus accrued interest
from April 1, 2015), 99.275% and 99.619%, respectively, of their
face value. The senior notes due 2020 are being offered as
additional notes under an indenture pursuant to which ETP issued
$700 million aggregate principal amount of 4.150% senior notes due
2020 on September 19, 2013. These additional senior notes due 2020
and the existing senior notes due 2020 will be treated as a single
series of securities under such indenture.
The sale of the senior notes is expected to settle on June 23,
2015, subject to customary closing conditions. ETP intends to use
the net proceeds of approximately $2.98 billion from this offering
to repay borrowings outstanding under ETP’s revolving credit
facility, to fund growth capital expenditures and for general
partnership purposes.
Wells Fargo Securities, LLC, Deutsche Bank Securities Inc. and
Mitsubishi UFJ Securities (USA), Inc. are acting as joint
book-runners 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, copies of which may
be obtained from the following addresses:
Wells Fargo Securities, LLC
608 2nd Avenue
South Minneapolis, MN 55402 Attention: WFS Customer Service
Toll-Free: 1-800-645-3751
Email:
wfscustomerservice@wellsfargo.com
Deutsche Bank Securities Inc. Attn.: Prospectus Group 60 Wall
Street New York, NY 10005-2836 Toll-Free: 1-800-503-4611
Email: prospectus.cpdg@db.com
Mitsubishi UFJ Securities (USA), Inc. 1633 Broadway, 29th
Floor New York, NY 10019 Attn: Capital Markets Group Phone:
212-405-7440 Fax: 646-434-3455
Toll-free Prospectus Request Hotline:
877-649-6848
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 owning and operating one of the
largest and most diversified portfolios of energy assets in the
United States. ETP’s subsidiaries include Panhandle Eastern Pipe
Line Company, LP (the successor of Southern Union Company) and Lone
Star NGL LLC, which owns and operates natural gas liquids storage,
fractionation and transportation assets. In total, ETP currently
owns and operates more than 62,000 miles of natural gas and natural
gas liquids pipelines. ETP also owns the general partner, 100% of
the incentive distribution rights, and approximately 67.1 million
common units in Sunoco Logistics Partners L.P. (NYSE: SXL), which
operates a geographically diverse portfolio of crude oil and
refined products pipelines, terminalling and crude oil acquisition
and marketing assets. ETP owns 100% of Sunoco, Inc. and 100% of
Susser Holdings Corporation. Additionally, ETP owns the general
partner, 100% of the incentive distribution rights and
approximately 44% of the limited partner interests in Sunoco LP
(formerly Susser Petroleum Partners LP) (NYSE: SUN), a wholesale
fuel distributor and convenience store operator. ETP’s general
partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE).
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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Investor Relations:Energy TransferBrent Ratliff,
214-981-0700orLyndsay Hannah, 214-840-5477orMedia
Relations:Granado Communications GroupVicki Granado,
214-599-8785Cell: 214-498-9272
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