Energy Transfer Partners, L.P. in Dallas has announced the pricing of common unit offering.
The offering totals 54,000,000 common units representing limited partner interests and the pricing will be at $18.65 a unit.
Net proceeds from the offering will be used by ETP to repay amounts outstanding under its revolving credit facilities. The funds will also be used to finance capital expenditures and for general partnership purposes.
The offering closes August 18 but ETP also granted the underwriter a 30-day option to purchase up to an aggregate of 8,100,000 additional common units.
Barclays Capital Inc. is the sole book-running manager for the offering.