Referenced Stocks

Energy Transfer Partners Prices Public Offering at $44.57 Per Unit: Down 6%

By Midnight Trader,  June 28, 2012, 10:24:39 AM EDT

Energy Transfer Partners, L.P. ( ETP ) dumped more than 6% this morning, falling to an intraday low of $42.65. The company today announced it has priced a public offering of 13,500,000 common units representing limited partner interests at $44.57 per common unit.

Net proceeds from the offering will be used by ETP to repay amounts outstanding under its amended and restated revolving credit facility, to fund capital expenditures related to pipeline construction projects and for general partnership purposes. The offering is scheduled to close on July 3, 2012. ETP also granted the underwriters a 30-day option to purchase up to an aggregate of 2,025,000 additional common units.

ETP trades in a 52-week range of $38.08 - $51.00.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ETP



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