Energy Transfer Partners LP (NYSE: ETP) has priced $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 billion aggregate principal amount of its 4.750% senior notes due 2026, and $1 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), 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 Sept. 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. ETP intends to use the net proceeds of $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.