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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Southern Union Company Common Stock | NYSE:SUG | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 41.10 | 0.00 | 01:00:00 |
Energy Transfer Partners LP (ETP) plans to issue a $2 billion, two-part bond deal in the U.S. credit markets Monday, according to a person familiar with the matter.
Energy Transfer Partners is raising money in connection with its 50% acquisition of Citrus Corp., owner of the Florida Gas Transmission pipeline system.
The deal is to feature 10- and 30-year senior unsecured notes, which are expected to be rated Baa3 from Moody's Investors Service and BBB-minus from Standard & Poor's and Fitch Ratings. The deal is registered with the Securities and Exchange Commission.
The bonds features a special mandatory redemption at 101 cents on the dollar in the event that acquisition isn't consummated on or before April 2012.
Lead underwriters are Credit Suisse, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities.
Energy Transfer Partners and Energy Transfer Equity LP reported on July 19 that they had signed an amended definitive agreement to acquire an indirect 50% interest in Citrus Corp, for $2 billion.
Citrus Corp. is currently jointly owned by Southern Union Company (SUG) and El Paso Corp. (EP).
-By Patrick McGee, Dow Jones Newswires; 212-416-2382; patrick.mcgee@dowjones.com
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