Energy Transfer LP prices $2.0B junior subordinated notes at 6.5%/6.75% due 2056

Energy Transfer LP

Issues $1.2B Series 2025A notes at 6.5% and $800M Series 2025B notes at 6.75%, both due 2056.
Net proceeds of ~$1.98B to repay revolving credit facility and for general partnership purposes.
Offering expected to close August 25, 2025; J.P. Morgan, PNC, TD, Truist, Wells Fargo lead underwriting.
Notes priced at par (100% of face value) and are junior subordinated obligations.

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