Williams Partners announces $150 million senior notes backing Four Corners stake

By Paul A. Harris

St. Louis, April 7 - Williams Partners LP plans to sell $150 million of senior notes via Rule 144A and Regulation S, the company said in an S-1 document filed Friday with the Securities and Exchange Commission.

Proceeds from the bonds, in addition to $216.9 million of proceeds from the sale of 7 million units of common stock, will be used to fund a 25.1% interest in the Four Corners system, which gathers and processes about 37% of the natural gas produced in the San Juan Basin and connects with the five pipeline systems that transport natural gas to end markets from the basin.

Lehman Brothers and Citigroup are managing the stock sale.

No further details on the bonds were disclosed in the filing, and the company declined to provide any further information when contacted Friday by Prospect News.

Williams Partners is a Tulsa, Okla.-based natural gas gathering, transporting and processing company.

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