DALLAS--(BUSINESS WIRE)--Sep. 19, 2017--
Energy Transfer Partners, L.P. (NYSE: ETP) today announced the pricing
of $750 million aggregate principal amount of 4.00% senior notes due
2027 of its wholly owned subsidiary, Sunoco Logistics Partners
Operations L.P. (the “Operating Partnership”) and $1.50 billion
aggregate principal amount of 5.40% senior notes due 2047 of the
Operating Partnership at a price to the public of 99.216% and 99.806%,
respectively, of their face value.
The sale of the senior notes is expected to settle on September 21,
2017, subject to the satisfaction of customary closing conditions. ETP
intends to use the net proceeds of 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.
The offering of the senior notes is being made pursuant to an effective
shelf registration statement and prospectus filed by ETP and the
Operating Partnership with the Securities and Exchange Commission
(“SEC”). The offering of the senior notes may be made only by means of a
prospectus and related prospectus supplement meeting the requirements of
Section 10 of the Securities Act of 1933, as amended, copies of which
may be obtained from the following addresses:
Deutsche Bank Securities Inc.
60 Wall Street
New York, NY
Attention: Prospectus Group
PNC Capital Markets LLC
The Tower at PNC Plaza
300 Fifth Avenue
Attn: Kathleen Riley
U.S. Bancorp Investments, Inc.
214 N. Tryon St., 26th Floor
Attention: Credit Fixed Income
Wells Fargo Securities, LLC
608 2nd Avenue South
Attn: WFS Customer Service
You may also obtain these documents for free when they are available by
visiting EDGAR on the SEC web site at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States.
Strategically positioned in all of the major U.S. production basins, ETP
owns and operates a geographically diverse portfolio of complementary
natural gas midstream, intrastate and interstate transportation and
storage assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and various
acquisition and marketing assets. ETP’s general partner is owned by
Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit
the Energy Transfer Partners, L.P. website at www.energytransfer.com.
Statements about the offering may be forward-looking statements.
Forward-looking statements can be identified by words such as
“anticipates,” “believes,” “intends,” “projects,” “plans,” “expects,”
“continues,” “estimates,” “goals,” “forecasts,” “may,” “will” and other
similar expressions. These forward-looking statements rely on a number
of assumptions concerning future events and are subject to a number of
uncertainties and factors, many of which are outside the control of ETP,
and a variety of risks that could cause results to differ materially
from those expected by management of ETP. Important information about
issues that could cause actual results to differ materially from those
expected by management of ETP can be found in ETP’s public periodic
filings with the SEC, including its Annual Report on Form 10-K. ETP
undertakes no obligation to update or revise forward-looking statements
to reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results over time.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170919006737/en/
Source: Energy Transfer Partners, L.P.
Lyndsay Hannah, Helen Ryoo, 214-981-0795
Granado, Lisa Dillinger, 214-840-5820