Energy Transfer Equity plans $500 million tap of 5 7/8% notes due 2024 in Thursday drive-by

By Paul A. Harris

Portland, Ore., May 22 - Energy Transfer Equity, LP plans to price a $500 million tack-on to its non-callable 5 7/8% senior notes due Jan. 15, 2024 Thursday afternoon, following a late-morning conference call with investors, according to a syndicate source.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. and RBC Capital Markets are the joint bookrunners for the Rule 144A and Regulation S for life offer.

The Dallas-based midstream services provider plans to use the proceeds to refinance bank debt.

The original $450 million issue priced at par on Nov. 14, 2013.

Upon registration the tack-on notes will be fungible with the original notes.

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