Energy Transfer Partners LP priced $3 billion, in aggregate principal amount, of several classes of senior notes, the company said June 18.
There are $650 million of 2.5% notes due 2018; $350 million of 4.15% notes due 2020; $1 billion of 4.75% notes due 2026 and $1 billion of 6.125% notes due 2045.
The notes are priced at 99.946%, 103.113% (plus accrued interest from April 1), 99.275% and 99.619%, respectively, of their face value, ETP said.
The 2020 notes are additional notes under an indenture in which ETP issued $700 million of identical notes on Sept. 19, 2013. Both issuances of 4.15% notes are treated as a single series of securities, the company said.
The sale of all the notes is scheduled to settle on June 23.
About $2.98 billion in proceeds will repay outstanding revolving credit facility borrowings, fund capex and support general partnership purposes.
Wells Fargo Securities LLC, Deutsche Bank Securities Inc. and Mitsubishi UFJ Securities (USA) Inc. are joint book-runners.
Energy Transfer Partners LP is based in Dallas.
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