Published on 2/1/2005 in the Prospect News PIPE Daily.
New Issue: Energy Transfer Partners raises $350 million in private placement of units
By Sheri Kasprzak
Atlanta, Feb. 1 - Energy Transfer Partners LP said it has closed a private placement of units for $350 million.
The company sold a total of 6,481,480 units at $54 each to Kayne Anderson MLP Investment Co., Fiduciary/Claymore MLP Opportunity Fund, Energy Income and Growth Fund, ZLP Opportunity Fund LP, Brahman Partners II LP, BY Partners LP, Brahman C.P.F. Partners LP and Brahman Partners III LP.
On Jan. 26, the company sold 3,148,147 units to Kayne Anderson MLP, Fiduciary/Claymore MLP and Energy Income and Growth for a total of $170 million. On Jan. 14, the company sold 3,333,333 units to the other five investors for a total of $180 million.
Based in Tulsa, Okla., Energy Transfer Partners owns and operates a portfolio of energy assets. The proceeds from the offering will be used to fund a portion of the company's acquisition of the interests of the Houston Pipeline.
Issuer: | Energy Transfer Partners LP
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Issue: | Units
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Amount: | $350 million
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Units: | 6,481,480
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Price: | $54.00
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Warrants: | No
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Investors: | Kayne Anderson MLP Investment Co., Fiduciary/Claymore MLP Opportunity Fund, Energy Income and Growth Fund, ZLP Opportunity Fund LP, Brahman Partners II LP, BY Partners LP, Brahman C.P.F. Partners LP and Brahman Partners III LP
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Settlement date: | Jan. 26
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Stock price: | $59.48 at close Jan. 26
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Stock price: | $64.30 at close Feb. 1
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