Energy Transfer Equity, L.P.(NYSE: ETE) yesterday completed the final steps of its previously announced refinancing transactions, which the Partnership expects will reduce its current annual interest expense by over $16 million. The reduced interest expense is expected to increase ETE’s distributable cash flow per unit by approximately $0.06 on an annualized basis. These related transactions allow ETE to continue to balance its mix of floating and fixed rate debt and retain flexible prepayable debt in its capital structure. As previously announced, ETE closed on the tender offer (the “Tender Offer”) to purchase for cash a portion of its outstanding $1.8 billion of 7.500% Senior Notes due 2020 (the “2020 Notes”). The total aggregate principal amount of 2020 Notes validly tendered and not validly withdrawn was approximately $613 million, representing approximately 34% of the outstanding 2020 Notes. The remaining balance of the 2020 Notes is now $1.187 billion. ETE also completed a public offering of $450 million in aggregate principal amount of 5.875% Senior Notes due 2024 (the “Notes Offering”) and refinanced its existing $900 million term loan and $200 million revolving credit facilities. ETE used the net proceeds from the Notes Offering, together with a portion of the borrowings under its new $1.0 billion term loan credit facility and new $600 million revolving credit facility, to fund the aggregate consideration for the Tender Offer. The refinancing of the term loan facility extended the maturity from March 2017 to December 2019, and reduced the interest rate on borrowings by 0.50% per year. The refinancing of the revolving credit facility extended the maturity from September 2015 to December 2018, with an option for the Partnership to extend the term, subject to certain terms and conditions, until December 2020. The new revolving credit facility also contains an accordion feature that allows ETE to increase the size of the facility to $1.0 billion.