By Sheri Kasprzak
New York, Nov. 2 - Energy Transfer Partners, LP concluded a $1.2 billion private placement of class G trust units.
Energy Transfer Equity, LP bought 26.1 million class G units at $46.00 each, a 6% discount to the company's $48.94 closing stock price on Oct. 31.
Proceeds from the limited partner equity interest offering will be used to fund a portion of the company's Transwestern Pipeline acquisition and to repay debt related to its acquisition of Titan Energy Partners, LP and Titan Energy GP, LLC, which closed in June.
Dallas-based Energy Transfer owns and operates a portfolio of energy assets, including natural gas transportation and storage operations.
| Issuer: | Energy Transfer Partners, LP
|
| Issue: | Class G trust units
|
| Amount: | $1.2006 billion
|
| Units: | 26.1 million
|
| Price: | $46.00
|
| Warrants: | No
|
| Investor: | Energy Transfer Equity, LP
|
| Settlement date: | Nov. 2
|
| Stock symbol: | NYSE: ETP
|
| Stock price: | $48.93 at close Nov. 1
|
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