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Energy Transfer Partners offers up to 62,100,000 common units

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Energy Transfer Partners offers up to 62,100,000 common units

Energy Transfer Partners LP launched an offering of 54,000,000 common units, with a 30-day overallotment option for the underwriter to buy up to an additional 8,100,000 units.

The partnership will use net proceeds from the offering to pay down revolver debt, fund CapEx and for general partnership purposes, according to an Aug. 14 news release.

The partnership expects the offering to eliminate the need for additional equity issuances through mid-2018 in order to fund its current portfolio of development projects, excepting certain offerings such as those under its distribution reinvestment plan and potential joint venture equity participations.