DALLAS--(BUSINESS WIRE)--Nov. 14, 2013--
Energy Transfer Equity, L.P. (NYSE: ETE) today announced
that it has priced its previously announced offering of 5.875% senior
notes due January 2024 (the “Notes”). In addition, the Company increased
the size of the offering of the Notes from $400.0 million to $450.0
million. The Notes were priced at par, resulting in total proceeds of
approximately $445.5 million (before expenses). The Notes initially will
be secured on a first-priority basis with the loans under ETE’s senior
secured revolving credit facility, ETE’s senior secured term loan
facility and the obligations under ETE’s existing 7.500% Senior Notes
due 2020 (the “2020 Notes”), by a lien on substantially all of ETE’s and
certain of ETE’s subsidiaries’ tangible and intangible assets that from
time to time secure ETE’s obligations under such indebtedness, subject
to certain exceptions and permitted liens and subject to the terms of a
collateral agency agreement. The liens securing the Notes will be
released in full if liens do not secure more than a threshold level of
senior obligations (so long as liens securing the 2020 Notes are
similarly released), after which the Notes will be unsecured. The Notes
will be ETE’s senior obligations, ranking equally in right of payment
with ETE’s other existing and future unsubordinated indebtedness and
senior to any of ETE’s future subordinated indebtedness. The offering is
expected to close on December 2, 2013.
ETE intends to use the net proceeds from this offering, together with a
portion of the net proceeds from its new $1.0 billion term loan credit
facility and its new $600.0 million revolving credit facility, to fund
its previously announced tender offer (the “Tender Offer”) to purchase
for cash up to an aggregate of $600.0 million principal amount of its
outstanding 2020 Notes from registered holders of the 2020 Notes,
including any related fees, expenses and accrued interest.
Credit Suisse, Deutsche Bank Securities, Citigroup and Goldman, Sachs &
Co. are acting as joint global coordinators and joint book-running
managers for the offering. In addition, Barclays, BofA Merrill Lynch,
Mitsubishi UFJ Securities, Mizuho Securities, Morgan Stanley, RBC
Capital Markets, RBS Securities Inc. and UBS Investment Bank are joint
book-running managers. A copy of the preliminary prospectus supplement
and prospectus relating to the offering may be obtained from the
following addresses:
Credit Suisse
Attn: Prospectus Dept.
One Madison Avenue
New
York, NY 10010
Telephone: 1-800-221-1037
Deutsche Bank Securities
Attn: Prospectus Group
60 Wall
Street
New York, NY 10005
Telephone: 1-800-503-4611
Citigroup
c/o Broadridge Financial Solutions
1155 Long
Island Avenue
Edgewood, NY 11717
Telephone: 1-800-831-9146
Goldman, Sachs & Co.
Attn: Prospectus Dept.
200
West Street
New York, NY 10282
Telephone: 1-866-471-2526
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 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. The offering is made pursuant to
an effective shelf registration statement and prospectus filed by ETE
with the SEC.
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership
which owns the general partner and 100% of the incentive distribution
rights (IDRs) of Energy Transfer Partners, L.P. (NYSE:ETP),
approximately 49.6 million ETP common units, and approximately 50.2
million ETP Class H Units, which track 50% of the underlying economics
of the general partners interest and IDRs of Sunoco Logistics Partners
L.P. (NYSE: SXL). ETE also owns the general partner and 100% of the IDRs
of Regency Energy Partners LP (NYSE:RGP) and approximately 26.3 million
RGP common units. The Energy Transfer family of companies owns more than
56,000 miles of natural gas, natural gas liquids, refined products, and
crude oil pipelines.
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 ETE, and a variety of risks that could cause results to
differ materially from those expected by management of ETE. ETE
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.
Source: Energy Transfer Equity, L.P.
Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
Cell:
214-498-9272