debt
confidence high
sentiment neutral
materiality 0.60
Energy Transfer prices $3B senior notes and $800M junior sub notes; to redeem Series C and D preferred units
Energy Transfer LP
- Priced $1.25B 5.550% senior notes due 2034 at 99.660% and $1.75B 5.950% senior notes due 2054 at 99.523%.
- Priced $800M 8.000% fixed-to-fixed reset rate junior subordinated notes due 2054 at 100.000% of face value.
- Net proceeds of ~$2.964B from senior notes and ~$792M from junior sub notes to repay credit facility and redeem preferreds.
- Redeeming Series C preferred units at $25.607454/unit and Series D at $25.619877/unit on Feb 9, 2024; Series E to be redeemed later in May 2024.
- Offerings expected to close January 25, 2024, subject to customary conditions.