Summary
Energy Transfer LP (ET) announced on October 5, 2017, that it entered into an underwriting agreement on October 3, 2017, for a public offering of $1.0 billion in aggregate principal amount of its 4.25% Senior Notes due 2023. This offering, registered under the Securities Act, aims to raise significant capital for the company through the issuance of these senior notes. The offering is expected to close on October 18, 2017, subject to the satisfaction of customary closing conditions. The underwriting agreement includes standard provisions such as representations, warranties, conditions to closing, and indemnification obligations between Energy Transfer and the underwriters, which included Morgan Stanley & Co. LLC and Mizuho Securities USA LLC. This move indicates the company's strategy to manage its capital structure and fund its operations or growth initiatives.
Key Highlights
- 1Energy Transfer LP is issuing $1.0 billion of 4.25% Senior Notes due 2023.
- 2The offering was conducted through an underwriting agreement dated October 3, 2017.
- 3The underwriters include Morgan Stanley & Co. LLC and Mizuho Securities USA LLC.
- 4The notes are registered under the Securities Act of 1933 via a Form S-3 registration statement.
- 5The closing of the offering is anticipated for October 18, 2017.
- 6The underwriting agreement contains customary terms, conditions, and indemnification clauses.