Key Developments in Energy Transfer’s Junior Note Issuance

Key Developments in Energy Transfer’s Junior Note Issuance
The energy sector has recently introduced a significant offering of junior subordinated notes with a price of approximately $1.75 billion.

This offering includes $650 million in 6.550% Series 2026A notes maturing in 2057 and $1.1 billion in 6.700% Series 2026B notes, both issued at face value.

The offering is slated to conclude on July 20, delivering expected net proceeds of around $1.7325 billion after costs.

Planned uses of the proceeds are to redeem outstanding 6.500% Series H Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units, refinance outstanding debt, and support business operations.

A formal redemption notice for the Series H preferred shares will be issued on August 15.

Recent market activity showed Energy Transfer trading near $19.25 on the NYSE on Monday, with slight upward movement to $19.30 later electronic trading.

Disclaimer: Viewpoints expressed here do not necessarily represent the stance of Nasdaq, Inc.

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