Transco prices private debt issuance

Transcontinental Gas Pipe Line Co. LLC (Transco), a wholly owned subsidiary of Williams Partners LP (NYSE: WPZ), has priced its offering of senior notes.

The $1 billion in aggregate principal amount of senior notes due 2026, scheduled to be delivered on Jan. 22, were priced with a 7.85% coupon and at an offering price of 99.825% of par, with a yield to investors of 7.875%.

Transco intends to use the net proceeds from the offering to repay indebtedness, including its $200 million of 6.40% notes due 2016 upon their maturity on April 15, and to fund capital expenditures.

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