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Williams gets $1.5 billion unsecured revolver
By Sara Rosenberg
New York, May 1 - Williams Cos., Inc. closed on a new $1.5 billion three-year revolving credit facility, according to a company news release.
Citigroup Global Markets Inc. and Banc of America Securities LLC acted as the joint lead arrangers and co-bookrunners on the deal.
During syndication, the revolver was significantly oversubscribed, allowing the company to upsize the deal from $1.275 billion.
Borrowings will be used for general corporate purposes and issuing letters of credit.
The new revolver replaces a $1.275 billion credit facility that was secured with equity in Transcontinental Gas Pipe Line Corp.
Williams is a Tulsa, Okla.-based explorer, producer and transporter of natural gas and power.
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