Energy Transfer Partners LP (NYSE: ETP) has priced its previously reported underwritten public offering of 54 million common units, representing limited partner interests, at $18.65 per common unit on Aug. 14.
Net proceeds from the offering will be used by ETP to repay amounts outstanding under its revolving credit facilities, to fund capital expenditures and for general partnership purposes. The offering is scheduled to close on Aug. 18.
Also, ETP granted the underwriter a 30-day option to purchase up to an aggregate of 8.1 million additional common units.
Barclays Capital Inc. is acting as sole book-running manager for the offering.