Transco Prices Private Debt Issuance
January 19 2016 - 5:57PM
Business Wire
Transcontinental Gas Pipe Line Company, LLC (“Transco”), a
wholly owned subsidiary of Williams Partners L.P. (NYSE: WPZ),
announced that it has priced its previously announced offering of
senior notes.
The $1 billion in aggregate principal amount of senior notes due
2026, scheduled to be delivered on January 22, 2016, were priced
with a 7.85 percent coupon and at an offering price of 99.825
percent of par, with a yield to investors of 7.875 percent.
Transco intends to use the net proceeds from the offering to
repay indebtedness, including our $200 million of 6.40 percent
notes due 2016 upon their maturity on April 15, 2016, and to fund
capital expenditures.
The notes will be offered pursuant to certain exemptions from
registration under the Securities Act of 1933, as amended (the
“Securities Act”). The offering of the notes has not been
registered under the Securities Act or applicable state securities
laws. The notes may not be offered or sold in the United States
absent registration or an applicable exemption from such
registration requirements.
This press release is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy the notes described in this press release, nor shall there be
any sale of the notes in any state or jurisdiction in which such an
offer, sale or solicitation would be unlawful prior to registration
or qualification under the securities laws of such
jurisdiction.
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.
About Williams Partners
Williams Partners (NYSE: WPZ) is an industry-leading, large-cap
natural gas infrastructure master limited partnership with a strong
growth outlook and major positions in key U.S. supply basins and
also in Canada. Williams Partners has operations across the natural
gas value chain from gathering, processing and interstate
transportation of natural gas and natural gas liquids to petchem
production of ethylene, propylene and other olefins. Williams
Partners 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 Partners’
operations touch approximately 30 percent of U.S. natural gas.
Tulsa, Okla.-based Williams (NYSE: WMB), a premier provider of
large-scale North American natural gas infrastructure, owns 60
percent of Williams Partners, including all of the 2 percent
general-partner interest. www.williams.com
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version on businesswire.com: http://www.businesswire.com/news/home/20160119006938/en/
Williams Partners L.P.Media Contact:Tom Droege,
918-573-4034orInvestor Contacts:John Porter,
918-573-0797orBrett Krieg, 918-573-4614
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