By Sheri Kasprzak
New York, July 26 - Energy Transfer Partners LP said it has completed a direct placement for $105.6 million.
The company sold 3 million units at $35.20 each to a single institutional investor.
The units were issued under the company's shelf registration.
The proceeds from the offering will be used to pay outstanding debt on a revolving credit facility, to strengthen the company's balance sheet and to fund a portion of its capital expansion projects.
Dallas-based Energy Transfer is a partnership that owns a portfolio of oil and natural gas assets.
| Issuer: | Energy Transfer Partners LP
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| Issue: | Stock
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| Amount: | $105.6 million
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| Trust units: | 3 million
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| Price: | $35.20
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| Warrants: | No
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| Settlement date: | July 26
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| Stock price: | $37.30 at close July 25
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