By Angela McDaniels
Tacoma, Wash., Jan. 9 - Energy Transfer Partners, LP priced $1 billion of 5.2% senior notes due 2022 and $1 billion of 6.5% senior notes due 2042, according to a company news release.
J.P. Morgan Securities LLC, UBS Investment Bank, Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC are the bookrunners.
Bank of America Merrill Lynch, BNP Paribas Securities Corp., RBS Securities Inc., Mitsubishi UFJ Securities, SunTrust Robinson Humphrey Inc., DnB NOR Markets Inc., US Bancorp and PNC Capital Markets LLC are co-managers.
The notes (Baa3//BBB-) are expected to settle on Jan. 17.
The company plans to use the proceeds to fund the cash portion of the purchase price, or $1.9 billion, of a 50% interest in Citrus Corp., which owns 100% of the Florida Gas Transmission pipeline system, and for general partnership purposes.
Dallas-based Energy Transfer Partners owns and operates a portfolio of energy assets.
| Issuer: | Energy Transfer Partners, LP
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Bookrunners: | J.P. Morgan Securities LLC, UBS Investment Bank, Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC
|
| Co-managers: | Bank of America Merrill Lynch, BNP Paribas Securities Corp., RBS Securities Inc., Mitsubishi UFJ Securities, SunTrust Robinson Humphrey Inc., DnB NOR Markets Inc., US Bancorp, PNC Capital Markets LLC
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 17
|
| Ratings: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2022
|
| Coupon: | 5.2%
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2042
|
| Coupon: | 6.5%
|
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