A leading master limited partnership,
Williams Partners L.P.
) announced the completion of its sale of senior notes worth $1
billion. The notes had been issued in two parts - $600 million
and $400 million - in aggregate principal amount.
The $600 million notes, which are set to mature in 2023, carry
an annual interest rate of 4.500% and are priced at 99.396% of
the principal amount. The $400 million notes are priced at
99.339% of the principal amount. These notes carry an interest
rate of 5.800% and are scheduled to mature in 2043.
Williams Partners plans to use the net proceeds from the
offering to repay amounts outstanding under its commercial paper
program, to fund capital expenditures and for general partnership
Williams Partners is an energy master limited partnership
engaged in gathering, transportation, treating and processing of
natural gas as well as fractionation and storage of NGLs. The
partnership owns interests in three major interstate natural gas
pipelines that, combined, deliver 14% of the natural gas consumed
in the U.S. The partnership's gathering and processing assets
include large-scale operations in the U.S. Rocky Mountains as
well as onshore and offshore Gulf of Mexico. The general partner
of the partnership is owned and managed by
Williams Companies Inc.
Williams Partners retains a Zacks Rank #3, which is equivalent
to a short-term Hold rating. However, there are other stocks in
the oil and gas sector -
Blueknight Energy Partners, L.P.
SM Energy Company
) - which hold a Zacks Rank #1 (Strong Buy) and are expected to
BLUEKNIGHT EGY (BKEP): Free Stock Analysis
SM ENERGY CO (SM): Free Stock Analysis Report
WILLIAMS COS (WMB): Free Stock Analysis
WILLIAMS PTNRS (WPZ): Free Stock Analysis
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