Midstream company Energy Transfer plans to use the proceeds from its $3 billion offering of senior notes to refinance existing debts and for general partnership purposes. (Source: Shutterstock)
Energy Transfer (ET) announced the terms of a $3 billion offering of senior notes on Feb. 18, which will be used to refinance existing debts and for general partnership purposes.
The $3 billion in notes has been divided into three separate offerings. Energy Transfer will offer $650 million in 5.2% senior notes due in 2030; $1.25 billion at 5.7% due in 2035; and $1.1 billion at 6.2% due in 2050. The notes are available to the public at 99.796%, 99.872% and 99.398%, respectively, of their face value.
Energy Transfer expects the sale to settle on March 4, the company said in a statement.
BofA Securities, Citigroup, Deutsche Bank Securities, Mizuho and SMBC Nikko are acting as joint book-running managers for the senior notes offering.
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