Energy Transfer Completes Public Offering Of 4.25% Senior Notes, Due 2023 For US$1 Billion

Published: Oct 03 2017
Deal Summary

Energy Transfer Equity, L.P., a midstream company, completed the public offering of 4.25% senior notes, due March 15, 2023, for gross proceeds of US$1,000 million (MM). The company received net proceeds of US$990 MM. The notes were priced at 99% of the principal amount to yield 4.25% on maturity. Interest on the notes will be payable semi-annually on March 15 and September 15 of each year, beginning on March 15, 2018.

Morgan Stanley & Co. LLC, Mizuho Securities USA LLC, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, MUFG Securities Americas Inc., Natixis Securities Americas LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and TD Securities (USA) LLC acted as joint book-running managers, while CIBC World Markets Corp. and Fifth Third Securities, Inc. acted as underwriters to the company for the offering. Latham & Watkins LLP acted as legal advisor to the company for the offering.

The company intends to use the proceeds from the offering to repay a portion of the outstanding indebtedness under its senior secured term loan facility, and for general partnership purposes.

Deal history

Completed: On October 18, 2017, Energy Transfer completed the public offering of 4.25% senior notes, due March 15, 2023, for gross proceeds of US$1,000 MM.

Priced/Filing: On October 3, 2017, Energy Transfer priced the public offering of 4.25% senior notes, due March 15, 2023, for gross proceeds of US$1,000 MM.

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