ETP Prices $2.5 Billion of Senior Notes

Energy Transfer Partners, L.P. (ETP) announced on March 6 the pricing of $1 billion aggregate principal amount of its 4.050% senior notes due 2025, $500 million aggregate principal amount of its 4.9% senior notes due 2035 and $1 billion aggregate principal amount of its 5.15% senior notes due 2045, at a price to the public of 99.918%, 99.81% and 99.772%, respectively, of their face value.

 

The sale of the senior notes is expected to settle on March 12, 2015, subject to customary closing conditions. ETP intends to use the net proceeds of approximately $2.476 billion from this offering to repay borrowings outstanding under ETP’s revolving credit facility, to fund growth capital expenditures and for general partnership purposes.

 

Citigroup Global Markets Inc., RBC Capital Markets, LLC and UBS Securities LLC are acting as joint book-running managers for the offering. The offering is being made by means of a prospectus and related prospectus supplement.