Energy Transfer Prices Of $3B Of Senior Notes And $800M Of Fixed-To-Fixed Reset Rate Junior Subordinated Notes
Portfolio Pulse from Benzinga Newsdesk
Energy Transfer LP (NYSE:ET) has priced its offerings of $3 billion in senior notes and $800 million in junior subordinated notes. The senior notes consist of $1.25 billion due 2034 at 5.550% and $1.75 billion due 2054 at 5.950%. The junior subordinated notes are $800 million due 2054 at 8.000%, priced at their face value. The senior notes are priced slightly below face value.
January 11, 2024 | 6:56 am
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NEUTRAL IMPACT
Energy Transfer LP has successfully priced a significant debt offering, which could impact its financial leverage and interest expenses.
The pricing of the debt offering is a routine financial activity and is likely already factored into the stock price. However, the additional debt could affect the company's leverage ratios and interest expenses, which may have a neutral to slightly negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100