Energy Transfer Equity Plans $400 Mln Senior Notes Offering

(RTTNews) - Energy Transfer Equity, L.P. (ETE) said Thursday that it plans to offer $400 million of senior notes due January 2024 in a public offering.

ETE said it plans to use the net proceeds from the offering, together with the net proceeds from its new term loan credit facility, to fund its previously announced tender offer to purchase for cash up to an aggregate of $400 million principal amount of its outstanding 7.500% Senior Notes due 2020 from registered holders of the 2020 Notes, including any related fees, expenses and accrued interest.

To the extent the net proceeds from the offering of senior notes exceeds the purchase price for the amount of 2020 Notes tendered in the tender offer and the related fees, expenses and accrued interest, ETE plans to use the balance of the proceeds for general partnership purposes.