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Energy Transfer Equity Announces Early Results Of The Tender Offer Of Its Outstanding 7.50% Senior Notes Due 2020

Stocks in this article: ETE ETP RGP SXL

Energy Transfer Equity, L.P. (NYSE: ETE) (the “Partnership”) today announced the early tender results for its previously announced tender offer (the “Tender Offer”) to purchase for cash up to an aggregate of $400 million principal amount of its outstanding 7.50% Senior Notes due 2020 (the “Notes”) from registered holders of the Notes (“Holders”). The terms and conditions of the Tender Offer are set forth in the Offer to Purchase dated October 30, 2013 (the “Offer to Purchase”). The Partnership has been advised by D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer, that $612,938,000.00 in aggregate principal amount of Notes were validly tendered and not validly withdrawn on or before 5:00 p.m., New York City time, on November 13, 2013 (the “Early Tender Deadline”). A summary of the Tender Offer is outlined below:

Title of Security  

CUSIP and ISIN Numbers

  Principal Amount Outstanding   Tender Cap   Total Consideration 1, 2   Early Tender Payment 1   Tender Offer Consideration 1, 2  

Principal Amount Tendered as of Early Tender Deadline

7.500% Senior Notesdue 2020


29273VAC4 andUS29273VAC46

  $1,800,000,000   $400,000,000   $1,150.00   $50.00   $1,100.00   $612,938,000
(1) Per $1,000 principal amount of Notes that are accepted for purchase.
(2) Accrued and unpaid interest will be paid in addition to the Total Consideration or the Tender Offer Consideration, as applicable.

Holders of Notes that validly tendered and did not validly withdraw their Notes on or before the Early Tender Deadline will be eligible to receive the Total Consideration, which includes an early tender payment (the “Early Tender Payment”) of $50.00 per $1,000 principal amount of Notes. Holders who validly tender their Notes after the Early Tender Deadline and at or prior to the Expiration Time (as defined below) that are accepted for purchase will be eligible to receive only the Tender Offer Consideration, and not the Early Tender Payment. The Tender Offer remains subject to the satisfaction of the financing and other conditions. Unless the Tender Offer is otherwise amended, since the principal amount of 2020 Notes validly tendered exceeds the Tender Cap, we will purchase the notes on a pro rata basis, as set forth in the Offer to Purchase.

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