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Energy Transfer Partners secures revolving credit facilities totaling $5B

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Energy Transfer Partners secures revolving credit facilities totaling $5B

Energy Transfer Partners LP entered into a $4 billion five-year revolving credit agreement, as well as a $1 billion 364-day revolving credit agreement, with a syndicate of banks, according to a Dec. 6 SEC filing.

Borrowings under the five-year agreement will mature on Dec. 1, 2022, while borrowings under the 364-day agreement will mature on Nov. 30, 2018. Borrowings under both agreements will be unsecured and guaranteed by Sunoco Logistics Partners Operations L.P..

ETP, at the same time, repaid all outstanding debt under its second amended and restated credit agreement dated as of Oct. 27, 2011, and its amended and restated credit agreement dated as of March 20, 2015. The partnership also paid customary fees related to the new credit agreements.

The lenders for the new credit agreements are led by Wells Fargo Bank NA as administrative agent.