Energy Transfer Partners, L.P. Prices Previously Announced Public Offering of Common Units
DALLAS--(Business Wire)--
Energy Transfer Partners, L.P. (NYSE:ETP) today announced that it
has priced its previously announced public offering of 7,750,000
common units representing limited partner interests at $39.45 per
common unit. Net proceeds from the offering, as well as the related
capital contribution from ETP's general partner to maintain its 2%
general partner interest, will be used by ETP to repay approximately
$300 million outstanding under its revolving credit facility. The
offering is scheduled to close July 21, 2008. ETP also granted the
underwriters a 30-day option to purchase up to an aggregate of
1,162,500 additional common units.
Citi, Wachovia Securities, Credit Suisse and Lehman Brothers are
acting as joint book-running managers, and JPMorgan, Merrill Lynch &
Co., Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities,
Morgan Keegan & Company, Inc., Oppenheimer & Co., RBC Capital Markets
and Sanders Morris Harris are acting as co-managers. A copy of the
prospectus supplement and prospectus relating to the offering may be
obtained from the following addresses:
-0-
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Citi Wachovia Securities
Brooklyn Army Terminal Attn: Equity Syndicate Dept.
Attn: Prospectus Delivery Dept. 375 Park Avenue
140 58th Street New York, New York 10152
Brooklyn, New York 11220 e-mail:
Telephone: 718-765-6732 equity.syndicate@wachovia.com
Telephone: 800-326-5897
Credit Suisse Lehman Brothers
Attn: Prospectus Dept. c/o Broadridge
One Madison Avenue Integrated Distribution
New York, New York 10010 Services
Telephone: 800-221-1037 1155 Long Island Avenue
Edgewood, New York 11717
e-mail:
qiana.smith@broadridge.com
Fax: 631-254-7140
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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 offering is made pursuant to an effective shelf registration
statement and prospectus filed by ETP with the Securities and Exchange
Commission. 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 jurisdiction. The offering 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.
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded
partnership owning and operating a diversified portfolio of energy
assets. ETP has pipeline operations in Arizona, Colorado, Louisiana,
New Mexico and Utah, and owns the largest intrastate pipeline system
in Texas. ETP's natural gas operations include intrastate natural gas
gathering and transportation pipelines, natural gas treating and
processing assets and three natural gas storage facilities located in
Texas. These assets include approximately 14,300 miles of intrastate
pipeline in service, with approximately 500 miles of intrastate
pipeline under construction, and 2,400 miles of interstate pipeline.
ETP is also one of the three largest retail marketers of propane in
the United States, serving more than one million customers across the
country.
Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner
of ETP and approximately 62.5 million ETP limited partner units.
Statements about the offering may be forward-looking statements as
defined under federal law. 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. 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.
Investor Relations:
Energy Transfer
Brent Ratliff, 214-981-0700
or
Media Relations:
Gittins & Granado
Vicki Granado, 214-361-0400
214-498-9272 cell
Copyright Business Wire 2008
