Williams Partners' Increased Offering Priced at 2.8% Discount
March 05 2013 - 10:21AM
Dow Jones News
By Ben Fox Rubin
Williams Partners L.P. (WPZ) said its public offering of common
units priced at a 2.8% discount to Monday's close.
The energy company also increased the number of units offered to
11.25 million from 10 million.
It will sell three million units to affiliate Williams Cos.
(WMB) in a private placement. Williams Partners had expected to
have about 411 million units outstanding after the offering, and
plans to use the proceeds to pay down debt.
Williams Partners shares were down 3.3% at $48.88, below the
offer price of $49.14. The stock is still up 1% over the past three
months.
Write to Ben Fox Rubin at ben.rubin@dowjones.com
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