Energy Transfer to repay loans, $1.65 billion notes via new issue

By Susanna Moon

Chicago, June 5 – Energy Transfer Partners, LP plans to repay revolver debt and to repay its $650 million 2.5% senior notes due June 15, 2018 and $600 million 6.7% senior notes due July 1, 2018 and its subsidiary’s $400 million 7% senior notes due June 15, 2018.

The company plans to repay the debt using proceeds of four tranches of senior notes due 2023, 2028, 2038 and 2048, according to a 424B3 filing with the Securities and Exchange Commission.

As of May 31, there was $3.2 billion of outstanding debt under the company’s revolving credit facility at a weighted average interest rate of 3.03%, including $1.9 billion of commercial paper borrowings and $162 million of outstanding letters of credit.

The five-year revolver matures in December 2022 and the 364-day facility matures in November 2018.

Energy Transfer Partners is a Dallas-based natural gas and propane transportation company.

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