CORRECTING and REPLACING Energy Transfer Partners Announces Preliminary Results and Extension of Early Participation and Consent Date for the Exchange Offers and Consent Solicitations Relating to Notes Issued by Southern Union Company
The corrected release reads:
ENERGY TRANSFER PARTNERS ANNOUNCES PRELIMINARY RESULTS AND EXTENSION OF EARLY PARTICIPATION AND CONSENT DATE FOR THE EXCHANGE OFFERS AND CONSENT SOLICITATIONS RELATING TO NOTES ISSUED BY SOUTHERN UNION COMPANY
- 58% of the principal amount of the Existing 2024 Notes;
- 44% of the principal amount of the Existing 2029 Notes; and
- 90% of the principal amount of the Existing Junior Subordinated Notes;
had validly tendered their Existing Notes pursuant to the terms of the
Exchange Offers prior to the original early participation and consent
date of
Additionally, ETP is waiving the minimum tender conditions and extending
the period during which holders who tender their Existing 2024 Notes,
Existing 2029 Notes and Existing Junior Subordinated Notes will receive
the exchange consideration plus an early participation premium under the
Exchange Offers. The new deadline to receive the exchange consideration
plus an early participation premium has been extended to
Pursuant to ETP’s waiver of the minimum tender conditions, the Exchange Offers for the Existing Senior Notes are no longer conditioned upon the receipt of at least a majority of the outstanding aggregate principal amount of both series of Existing Senior Notes and the Exchange Offer for the Existing Junior Subordinated Notes is no longer conditioned upon the receipt of at least a majority of the outstanding aggregate principal amount of all series of Existing Notes.
Based on the results announced above, pursuant to the terms of the
previously announced consent solicitations, ETP, on behalf of
Holders who have already validly tendered their Existing Notes and
delivered their consents do not need to re-tender their Existing Notes
or deliver new consents. The expiration date of the exchange offers and
consent solicitations remains unchanged and will expire at
All other material terms of the Exchange Offers and consent
solicitations remain unchanged. Eligible holders should refer to the
offering memorandum and consent solicitation statement dated
The new notes have not been registered under the Securities Act of 1933,
as amended (the “Securities Act”), or the securities laws of any state
and may not be offered or sold in
The new notes will be offered only to qualified institutional buyers
pursuant to Rule 144A under the Securities Act or persons other than
“U.S. persons” pursuant to Regulation S under the Securities Act
(“eligible holders”). Documents relating to the exchange offers will
only be distributed to eligible holders who properly complete and return
a letter of eligibility confirming that they are within the category of
eligible holders for the private Exchange Offers. Eligible holders who
desire a copy of the letter of eligibility should contact
Statements about the offering may be forward-looking statements as
defined under federal law. Forward-looking statements can be identified
by words such as “anticipates,” “believes,” “expects,” “estimates,”
“forecasts,” “projects,” “should” and other similar expressions. 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. Important information about issues that could cause
actual results to differ materially from those expected by management of
ETP can be found in ETP’s public periodic filings with the
Source:
Investor Relations:
Energy Transfer
Brent Ratliff, 214-981-0700
or
Media
Relations:
Granado Communications Group
Vicki Granado,
214-599-8785
214-498-9272 (cell)