Energy Transfer Operating LP

Energy Transfer Operating LP has priced an underwritten public offering of 28 million of its 7.6% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units at a price of $25 per unit, resulting in total proceeds of $700 million. The underwriters have a 30-day option to purchase up to 4.2 million additional Series E Preferred Units.