Energy Transfer to repay revolver borrowings via Sunoco redemption

By Sarah Lizee

Olympia, Wash., Jan. 25 – Energy Transfer Equity, LP plans to repay amounts outstanding under its revolving credit facility using proceeds from Sunoco LP’s redemption of its outstanding series A preferred units, according to a press release.

The preferreds, which are held by Energy Transfer Equity, were redeemed for about $312.6 million.

Additionally, Energy Transfer Partners, LP plans to repay amounts outstanding under its revolver using proceeds from Sunoco’s repurchase of 17,286,859 Sunoco common units owned by Energy Transfer Partners for about $540 million.

The transaction is expected to close on Feb. 7.

Energy Transfer is a natural gas midstream and intrastate transportation and storage company based in Dallas.

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