By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – Energy Transfer Operating LP priced $4.5 billion of senior notes in three parts, according to a press release issued on Tuesday evening.
The company priced $1 billion of 2.9% senior notes due 2025 at 99.924.
Energy Transfer priced $1.5 billion of 3.75% senior notes due 2030 at 99.843.
It also priced $2 billion of 5% senior notes due 2050 at 99.914.
The notes will feature a make-whole call and then a par call.
The company also announced that it priced a public offering of 500,000 of 6.75% series F fixed-rate reset cumulative redeemable perpetual preferred units and 1.1 of 7.125% series G fixed-rate reset cumulative redeemable perpetual preferred units, both at $1,000 per unit, in a separate offering on Tuesday.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., MUFG, Natixis Securities Americas LLC and TD Securities (USA) LLC are the bookrunners for both of the offerings.
Proceeds will be used to repay debt and for general partnership purposes.
Energy Transfer is a natural gas midstream and intrastate transportation and storage company based in Dallas.
| Issuer: | Energy Transfer Operating LP
|
| Issue: | Senior notes
|
| Amount: | $4.5 billion
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 22
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., MUFG, Natixis Securities Americas LLC and TD Securities (USA) LLC
|
|
|
| 2025 notes
|
| Amount: | $1 billion
|
| Coupon: | 2.9%
|
| Maturity: | 2025
|
| Price: | 99.924
|
|
|
| 2030 notes
|
| Amount: | $1.5 billion
|
| Coupon: | 3.75%
|
| Maturity: | 2030
|
| Price: | 99.843
|
|
|
| 2050 notes
|
| Amount: | $2 billion
|
| Coupon: | 5%
|
| Maturity: | 2050
|
| Price: | 99.914
|
|
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