Energy Transfer Equity mulls notes issuance as part of its debt refinancing effort

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Oct. 30 - Energy Transfer Equity LP announced in a Monday press release that it might issue new senior secured notes as part of a debt refinancing that it has undertaken.

The company announced that it is finalizing a new up to $600 million five-year revolving credit facility and is looking to refinance its existing $900 million senior secured term loan due March 2017.

The company also said that it plans on either issuing new senior secured notes and/or getting a new term loan to fund a tender offer for $400 million of its $1.8 billion 7½% senior notes due 2020.

The tender offer will expire on Nov. 27.

Dealer managers for the tender offer are Credit Suisse Securities (USA) LLC and Goldman Sachs & Co.

Energy Transfer Equity is a Dallas-based master limited partnership that owns natural gas, natural gas liquids, refined products and crude oil pipelines.

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