By Lisa Kerner
Charlotte, N.C., Dec. 14 - Transwestern Pipeline Co., LLC, an Energy Transfer Partners, LP subsidiary, announced it completed a private placement on Wednesday of $175 million of 5.36% senior unsecured series A notes due Dec. 9, 2020 and $175 million of 5.66% senior unsecured series B notes due Dec. 9, 2024.
Proceeds will be used to repay amounts outstanding under an intercompany loan agreement with Energy Transfer Partners, according to a form 8-K filed with the Securities and Exchange Commission.
Purchasers included Hartford Life Insurance Co., Massachusetts Life Insurance Co., American General Life Insurance Co. and Northwestern Life Insurance Co.
The notes are prepayable at any time in whole or pro rata in part. Transwestern will pay an amount equal to par plus accrued interest plus a make-whole premium in the event of prepayment, the filing said.
Banc of America Securities LLC was the placement agent.
Dallas-based Energy Transfer owns and operates a portfolio of energy assets, including natural gas transportation and storage operations.
| Issuer: | Transwestern Pipeline Co., LLC
|
| Issue: | Senior unsecured notes
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| Amount: | $350 million
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| Call option: | At par plus make-whole premium at any time
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| Investors: | Hartford Life Insurance Co., Massachusetts Life Insurance Co., American General Life Ins. Co. and Northwestern Life Insurance Co.
|
| Agent: | Banc of America Securities LLC
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| Settlement date: | Dec. 9
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| Distribution: | Private placement
|
|
|
| Series A notes
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| Amount: | $175 million
|
| Maturity: | Dec. 9, 2020
|
| Coupon: | 5.36%
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| Price: | Par
|
|
|
| Series B notes
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| Amount: | $175 million
|
| Maturity: | Dec. 9, 2024
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| Coupon: | 5.66%
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| Price: | Par
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