Energy Transfer Equity, L.P. (NYSE: ETE) today announced its intention, subject to market conditions, to offer $400 million of senior notes due January 2024 in a public offering. ETE intends to use the net proceeds from this offering, together with the net proceeds from its new term loan credit facility, to fund its previously announced tender offer (the “Tender Offer”) to purchase for cash up to an aggregate of $400 million principal amount of its outstanding 7.500% Senior Notes due 2020 (the “2020 Notes”) from registered holders of the 2020 Notes, including any related fees, expenses and accrued interest. To the extent the net proceeds from the offering of senior notes exceeds the purchase price for the amount of 2020 Notes tendered in the Tender Offer and the related fees, expenses and accrued interest, ETE intends to use the balance of the proceeds for general partnership purposes.
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 Capital, BofA Merrill Lynch, Mitsubishi UFJ Securities, Mizuho Securities, Morgan Stanley, RBC Capital Markets, RBS 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 SuisseAttn: Prospectus Dept.One Madison AvenueNew York, NY 10010Telephone: 1-800-221-1037
Deutsche Bank SecuritiesAttn: Prospectus Group60 Wall StreetNew York, NY 10005Telephone: 1-800-503-4611Citigroupc/o Broadridge Financial Solutions1155 Long Island AvenueEnglewood, NY 11717Telephone: 1-800-831-1946 Goldman, Sachs & Co.Attn: Prospectus Dept.200 West StreetNew York, NY 10282Telephone: 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.
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