Energy Transfer Partners LP (NYSE: ETP) along with its subsidiary, Sunoco Logistics Partners Operations LP, priced $750 million of its 4.00% senior notes due 2027 and $1.50 billion of its 5.40% senior notes due 2047 at a price to the public of 99.216% and 99.806% of their face value, it said on Sept. 19.
The operating partnership anticipates the offering to settle on Sept. 21.
ETP intends to use approximately $2.223 billion from this offering to redeem all of the $500 million aggregate principal amount of Energy Transfer LP’s 6.5% senior notes due 2021, repay borrowings outstanding under the operating partnership’s revolving credit facility and for general partnership purposes.
Deutsche Bank Securities Inc., PNC Capital Markets LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are acting as joint book-running managers for the offering.
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