DALLAS - Energy Transfer LP (NYSE:ET), a major player in the U.S. energy sector, disclosed its plans today to conduct concurrent public offerings of two sets of debt securities, subject to market conditions and other factors. The offerings will consist of senior notes due in 2034 and 2054, along with junior subordinated notes also maturing in 2054.
The proceeds from these offerings are earmarked for several financial maneuvers, including the refinancing of existing debt, such as borrowings under the company's revolving credit facility. Additionally, Energy Transfer aims to redeem its outstanding Series C, D, and E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, with the Series E preferred units slated for redemption when they become redeemable on May 15, 2024. The remaining funds will be allocated for general partnership purposes.
Citigroup Global Markets Inc., Credit Agricole (OTC:CRARY) Securities (USA) Inc., Deutsche Bank Securities Inc., PNC Capital Markets LLC, and RBC Capital Markets, LLC are serving as joint book-running managers for both the senior and junior subordinated notes offerings.
The offerings are being made through an effective shelf registration statement and prospectus filed with the Securities and Exchange Commission (SEC). Interested parties can obtain copies of the prospectus and related prospectus supplement for each offering from the respective managing firms.
Energy Transfer, which owns and operates a vast array of energy assets across the United States, including over 125,000 miles of pipelines, is a publicly traded limited partnership. Its assets cover 44 states and include a variety of midstream, transportation, storage, and terminalling facilities for natural gas, crude oil, natural gas liquids (NGL), and refined products. The company also holds significant interests in Sunoco LP (NYSE:SUN) and USA Compression Partners, LP (NYSE:NYSE:USAC).
The information presented here is based on a press release statement from Energy Transfer LP.
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