Energy Transfer Partners LP (NYSE: ETP) announced the pricing of $2.5 billion of its senior notes in a March 6 statement. The notes include:

  • $1 billion aggregate principal amount of its 4.05% senior notes due 2025 at a price to the public of 99.918% of their face value;
  • $500 million aggregate principal amount of its 4.9% senior notes due 2035 at a price to the public of 99.810% of their face value; and
  • $1 billion aggregate principal amount of its 5.150% senior notes due 2045 at a price to the public of 99.772% of their face value.

The sale of the senior notes is expected to settle on March 12, subject to customary closing conditions. ETP plans to use the net proceeds of about $2.476 billion from the offering to repay borrowings outstanding under its revolving credit facility, to fund growth capital expenditures and for general partnership purposes.

Citigroup Global Markets Inc., RBC Capital Markets LLC and UBS Securities LLC are serving as joint book-running managers for the offering.