Williams came out Tuesday with a combined public offering of $1.25 billion in senior notes and said it will use the funds for corporate operations and possible payment of notes due next year.
The company announced the public offering included $600 million of 2.600% senior notes due 2031 at a price of 100.973% of par. It also included another $650 million of 3.500% senior notes due 2051 at a price of 99.833% of par.
The new 2031 notes, according to the announcement are an additional issuance of the $900 million aggregate principal amount of Williams’ 2.600% senior notes due 2031 issued on March 2, 2021.
The expected settlement date for the offering is October 8, 2021, subject to the satisfaction of customary closing conditions.
Williams intends to use the net proceeds of the offering for general corporate purposes, which may include, together with cash on hand, repaying the $1.25 billion aggregate principal amount of our outstanding 3.60% Senior Notes due 2022.
Barclays Capital Inc., SMBC Nikko Securities America, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.