What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to report that Energy Transfer LP (ET) has officially assumed all obligations for the outstanding senior notes previously issued by Enable Midstream Partners, LP (Enable). This action is a direct consequence of ET's acquisition of Enable.

Which specific Enable Notes has Energy Transfer assumed?

Energy Transfer has assumed the obligations for the following Enable Senior Notes: 3.900% Senior Notes due 2024 ($600 million), 5.000% Senior Notes due 2044 ($550 million), 4.400% Senior Notes due 2027 ($700 million), 4.950% Senior Notes due 2028 ($800 million), and 4.150% Senior Notes due 2029 ($550 million).

When did the merger with Enable officially close, and when were Enable's assets transferred?

The merger between Energy Transfer LP and Enable Midstream Partners, LP officially closed on December 2, 2021. Enable's assets were substantially contributed to ET on December 28, 2021, with the debt assumption formalizing through the Fifth Supplemental Indenture on the same date.

What is the significance of the Fifth Supplemental Indenture?

The Fifth Supplemental Indenture is the legal document through which Energy Transfer LP agrees to be bound by and assume all the terms, conditions, and payment obligations of the existing Enable Notes. This ensures that the noteholders continue to have ET as their obligor after the acquisition.

ET/ET-PI 8-K: Material Agreements & Financial Events

Summary

Energy Transfer LP (ET) filed an 8-K on December 28, 2021, to report on the consummation of its acquisition of Enable Midstream Partners, LP (Enable). This filing primarily details the execution of a Fifth Supplemental Indenture, through which ET formally assumed all obligations related to Enable's outstanding senior notes. This action solidifies the integration of Enable's debt into ET's capital structure following the merger, which closed on December 2, 2021, and the subsequent contribution of Enable's assets to ET on December 28, 2021. For investors, this 8-K confirms the completion of the debt assumption aspect of the Enable acquisition. It provides transparency regarding the specific series of Enable Notes now guaranteed by Energy Transfer, including their principal amounts and interest rates. This move is a crucial step in the post-merger integration process, ensuring continuity for Enable's noteholders and reflecting the combined entity's financial commitments.

Key Highlights

1Energy Transfer LP (ET) officially assumed all obligations for Enable Midstream Partners, LP's (Enable) outstanding senior notes through a Fifth Supplemental Indenture.
2This action follows the completion of the merger between ET and Enable, which occurred on December 2, 2021.
3The filing specifies the aggregate principal amounts and interest rates for various series of Enable's Senior Notes, now backed by ET, including 3.900% due 2024, 5.000% due 2044, 4.400% due 2027, 4.950% due 2028, and 4.150% due 2029.
4Enable's assets were substantially contributed to ET on December 28, 2021, as part of the integration process.
5The filing incorporates by reference the Fifth Supplemental Indenture as an exhibit, allowing investors to review the specific terms of the debt assumption.
6This 8-K formalizes a material definitive agreement related to the financial obligations arising from the Enable acquisition.

Energy Transfer LP 8-K Report, Material Agreement (Dec 29, 2021)

Summary

Key Highlights

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