Energy Transfer to use revolver borrowings to acquire PennTex interests

By Marisa Wong

Morgantown, W.Va., Oct. 25 – Energy Transfer Partners, LP said it will use borrowings under its revolving credit facility to acquire interests in PennTex Midstream Partners, LP.

The company will also use proceeds from a sale of common units to fund the acquisition, valued at about $640 million.

Energy Transfer Partners is an energy gathering and transportation company based in Dallas. PennTex owns and operates midstream energy infrastructure assets and is based in Houston.

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