New York, June 20 - Energy Transfer Partners LP said it has completed a $52.4 million private placement of units to its managers.
The company sold 1,640,000 units at $31.95 each to its president, vice president and general counsel, and vice president - corporate development.
A committee of independent directors approved the sale, which was at a 6% discount to the closing price on June 17. Energy Transfer said it believes the price was comparable to what it would have achieved in a large block trade.
Based in Tulsa, Okla., Energy Transfer Partners owns and operates a portfolio of energy assets. The proceeds from the offering will be used to strengthen its balance sheet.
| Issuer: | Energy Transfer Partners LP
|
| Issue: | Units
|
| Amount: | $52.398 million
|
| Units: | 1,640,000
|
| Price: | $31.95
|
| Warrants: | No
|
| Investors: | Managers
|
| Pricing date: | June 17
|
| Settlement: | June 20
|
| Stock price: | $33.99 at close June 17
|
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