trending Market Intelligence /marketintelligence/en/news-insights/trending/1F1104_mNq6ixucHO2Cixw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Energy Transfer unit extends early tender deadline for $4.34B exchange offer

Blog

Essential Energy Insights - February 2021

Blog

Message in a (Word)Cloud

Six trends shaping the industries and sectors we cover in 2021

Six trends shaping the industries and sectors we cover in 2021


Energy Transfer unit extends early tender deadline for $4.34B exchange offer

Energy Transfer Operating LP extended the deadline for investors to receive early consent benefits from its offer to exchange about $4.34 billion of certain senior notes issued by Energy Transfer LP, according to a March 11 news release.

The operating partnership moved the deadline to receive an early tender premium of $30 per $970 of notes to 11:59 p.m. ET on March 22, from the initial deadline of 5 p.m. ET on March 8. Energy Transfer Operating also said roughly 97% of holders of the Energy Transfer notes already agreed to the exchange offer before the original deadline.

As of the original deadline, Energy Transfer Operating has received valid tenders of $1.13 billion of 7.500% notes due 2020, $990.7 million of 4.250% notes due 2023, $1.13 billion of 5.875% notes due 2024, and $952.9 million of 5.500% notes due 2027. Energy Transfer Operating previously said the new notes would have the same interest rates and maturity dates as the notes offered for exchange.

Citigroup, J.P. Morgan Securities LLC and TD Securities (USA) LLC are acting as dealer managers for the offer.

Energy Transfer Operating controls crude oil, natural gas, NGL and refined product midstream assets across the major U.S. production basins. Its general partner is owned by Energy Transfer.