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Energy Transfer unit secures $2B credit facility

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Energy Transfer unit secures $2B credit facility

Energy Transfer LP subsidiary Energy Transfer Operating LP entered into a term loan credit agreement for a $2 billion, three-year term loan credit facility with lenders, according to an Oct. 18 SEC filing.

Borrowings under the facility, which mature on Oct. 17, 2022, would be used for working capital and general business purposes. Based on the partnership's preference, the borrowings would accrue interest at either a eurodollar rate or base rate, plus the applicable margin.

Toronto Dominion (Texas) LLC served as the administrative agent.

Energy Transfer is a limited partnership that owns crude oil and NGL transportation and storage assets, among other assets.