Key Developments: Energy Transfer Partners LP (ETP)
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24 May 2013
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Latest Key Developments (Source: Significant Developments)
Energy Transfer Partners LP Announces Cash Distribution for First Quarter of 2013
Energy Transfer Partners LP announced that the Board of Directors of each Partnership has approved quarterly distributions for the quarter ended March 31, 2013. ETP’s Board of Directors has approved a quarterly distribution of $0.89375 per unit ($3.575 annualized) on ETP common units for the quarter ended March 31, 2013. The cash distribution will be paid on May 15, 2013 to unitholders of record as of the close of business on May 6, 2013. Full Article
Energy Transfer Partners LP Announces Closing Of Common Unit Offering
Energy Transfer Partners LP announced that its previously announced public offering of 13,800,000 common units representing limited partner interests at $48.05 per common unit, which includes 1,800,000 common units purchased pursuant to the full exercise of the underwriter's option to purchase additional common units, has closed. Net proceeds from the offering will be used by ETP to repay amounts outstanding under its revolving credit facility and for general partnership purposes. Full Article
Energy Transfer Partners LP Announces Pricing Of Common Unit Offering
Energy Transfer Partners LP announced that it has priced a public offering of 12,000,000 common units representing limited partner interests at $48.05 per common unit. Net proceeds from the offering will be used by ETP to repay amounts outstanding under revolving credit facility and for general partnership purposes. The offering is scheduled to close on April 10, 2013. ETP also granted the underwriter a 30-day option to purchase up to an aggregate of 1,800,000 additional common units. Barclays Capital Inc. is acting as the underwriter. Full Article
Energy Transfer Partners LP Announces Common Unit Offering
Energy Transfer Partners LP announced it has commenced a public offering of 12,000,000 common units representing limited partner interests, with a 30-day option for the underwriter to purchase up to an additional 1,800,000 common units. Net proceeds from the offering will be used by ETP to repay amounts outstanding under its revolving credit facility and for general partnership purposes. Full Article
Energy Transfer Partners LP Announces Cash Distribution For Fourth Quarter Of 2012
Energy Transfer Partners LP announced that the Board of Directors has approved a quarterly distribution of $0.89375 per unit ($3.575 annualized) on ETP common units for the quarter ended December 31, 2012. The cash distribution will be paid on February 14, 2013 to unit holders of record as of the close of business on February 7, 2013. Full Article
Energy Transfer Partners LP Announces Pricing Of $1.25 Billion Of Senior Notes
Energy Transfer Partners LP announced the pricing of $800 million aggregate principal amount of its 3.60% senior notes due 2023 and $450 million aggregate principal amount of its 5.15% senior notes due 2043. The sale of the senior notes is expected to settle on January 22, 2013, subject to customary closing conditions. ETP intends to use the net proceeds of approximately $1.24 billion from this offering to repay borrowings outstanding under its revolving credit facility and for general partnership purposes. Merrill Lynch, Pierce, Fenner & Smith Incorporated, SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., U.S. Bancorp Investments, Inc. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. In addition, DNB Markets, Inc., Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC and UBS Securities LLC are acting as co-managers. Full Article
Energy Transfer Partners LP Announces Cash Distributions For Third Quarter Of 2012
Energy Transfer Partners LP announced that the Board of Directors has approved a quarterly distribution of $0.89375 per unit ($3.575 annualized) on ETP`s outstanding common units for the quarter ended September 30, 2012. The distribution will be paid on November 14, 2012 to Unitholders of record as of the close of business on November 6, 2012. Full Article
Energy Transfer Partners LP And Sunoco, Inc Announce Completion Of Merger
Energy Transfer Partners LP and Sunoco, Inc. announced the completion of the previously announced merger of a wholly owned subsidiary of ETP, with and into Sunoco, with Sunoco surviving the merger as a subsidiary of ETP. Under the terms of the merger agreement, Sunoco shareholders were able to receive, for each Sunoco common share they owned, a combination of $25.00 in cash and 0.5245 of an ETP common unit (the Standard Mix of Consideration). In lieu of receiving this Standard Mix of Consideration, Sunoco shareholders, for each Sunoco common share they owned, could make an election to receive $50.00 in cash or 1.0490 ETP common units (the Unit Consideration), with such Cash Consideration and Unit Consideration subject to proration in accordance with the merger agreement. Because the Cash Consideration was oversubscribed, all holders making a cash election will have their Cash Consideration prorated and a portion of it will be substituted with ETP common units in accordance with the terms of the merger agreement. In the aggregate, Sunoco shareholders will receive 50% of the merger consideration in cash and 50% in ETP common units. The total consideration to be paid in cash will be approximately $2.6 billion and the total consideration to be paid in equity will be approximately 54,971,724 ETP common units. Wells Fargo Securities, LLC acted as exclusive financial advisor to ETP, with Latham & Watkins LLP and Bingham McCutchen LLP having acted as legal counsel. Full Article
Energy Transfer Partners LP Announces Cash Distributions For Second Quarter Of 2012
Energy Transfer Partners LP announced that the Board of Directors has approved a quarterly distribution of $0.89375 per unit ($3.575 annualized) on ETP’s outstanding common units for the quarter ended June 30, 2012. The distribution will be paid on August 14, 2012 to Unitholders of record as of the close of business on August 6, 2012. Full Article
Energy Transfer Partners LP Announces Closing Of Common Unit Offering
Energy Transfer Partners LP announced public offering of 15,525,000 common units representing limited partner interests at $44.57 per common unit, which includes 2,025,000 common units purchased pursuant to the full exercise of the underwriters` option to purchase additional common units, has closed. Net proceeds from the offering will be used by ETP to repay amounts outstanding under its amended and restated revolving credit facility, to fund capital expenditures related to pipeline construction projects and for general partnership purposes. BofA Merrill Lynch, Barclays, Morgan Stanley, UBS Investment Bank, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan, and Wells Fargo Securities acted as joint book-running managers. Raymond James and RBC Capital Markets acted as senior co-managers and Stifel Nicolaus Weisel and Simmons & Company International acted as junior co-managers. Full Article
UPDATE 1-Sunoco to proceed with Texas propane, butane pipeline
New York, May 6 - Sunoco Logistics Partners LP said on Monday it had received sufficient binding commitments to ship propane and butane on its proposed Mariner South pipeline in Texas to proceed with the project.
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