DALLAS, TEXAS — January 20th, 2010 — Energy Transfer Equity, L.P. (NYSE: ETE) today announced its intention, subject to market conditions, to offer $1.75 billion of senior notes in a public offering. ETE intends to use the net proceeds from this offering, together with borrowings under its new $200 million revolving credit facility to be entered into concurrently with the offering of the notes, to repay all of the outstanding indebtedness under its $500 million revolving credit facility, to repay all of the indebtedness outstanding under its term loan facility, and to terminate interest rate swap agreements.
Credit Suisse, Morgan Stanley, Wells Fargo Securities, BofA Merrill Lynch, and UBS Investment Bank are acting as joint book-running managers for the offering. In addition, BNP PARIBAS, Deutsche Bank Securities and SunTrust Robinson Humphrey are co-managing underwriters. The offering is being made by means of a prospectus and related prospectus supplement, copies of which may be obtained from the following addresses:
Credit Suisse
Attn: Prospectus Dept.
One Madison Avenue
New York, NY 10010
Telephone: 1-800-221-1037
Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd Floor
New York, NY 10014
Email: prospectus@morganstanley.com
Telephone: 1-866-718-1649
Wells Fargo Securities
Attn: High Yield Syndicate
301 S. College St., 6th Floor
Charlotte, NC 28202
Telephone: 704-715-7035
BofA Merrill Lynch
Banc of America Securities LLC
Attn: Prospectus Department
100 West 33rd Street, 3rd Floor
New York, NY 10001
Email: dg.prospectus_distribution@bofasecurities.com
UBS Investment Bank
Attn: Prospectus Dept.
299 Park Avenue
New York, NY 10171
Toll-free: 888-827-7275
You may also obtain these documents for free when they are available by visiting EDGAR on the SEC web site at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering is made pursuant to an effective shelf registration statement and prospectus filed by ETE with the SEC.
Energy Transfer Equity, L.P. (NYSE: ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners, L.P. and approximately 62.5 million ETP limited partner units.
Energy Transfer Partners, L.P. (NYSE: ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP’s natural gas operations include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Statements about the offering may be forward-looking statements as defined under federal law. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of ETE, and a variety of risks that could cause results to differ materially from those expected by management of ETE. ETE undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Contacts
Investor Relations:
Brent Ratliff
Energy Transfer
214-981-0700 (office)
Media Relations:
Vicki Granado
Granado Communications Group
214-361-0400 direct
214-498-9272 cell
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