Regency Energy Partners to redeem 8 3/8% notes due 2013 with public offering

By Devika Patel

Knoxville, Tenn., July 23 - Regency Energy Partners LP it will redeem 35% of its $550 million of outstanding 8 3/8% senior notes due 2013 using proceeds from an underwritten public offering of 10 million units.

The offering has a greenshoe of up to 1.5 million units.

UBS Investment Bank, Goldman, Sachs & Co. and Morgan Stanley & Co. Inc. are joint bookrunning managers for the offering.

Proceeds also will be used to repay a term loan and the company's revolving credit debt.

Regency Energy Partners is a Dallas-based midstream energy partnership.

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