By Andrea Heisinger
New York, Nov. 15 - Williams Partners LP gave terms for its $500 million of 4% 10-year senior notes (Baa3/BBB-/BBB-) priced on Monday at a spread of Treasuries plus 200 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes sold at 99.593 to yield 4.05%. They have a make-whole call at Treasuries plus 30 bps until Aug. 15, 2021 and are callable after at par.
Deutsche Bank Securities Inc., RBS Securities Inc. and Scotia Capital (USA) Inc. were the active bookrunners. Credit Agricole Securities USA Inc. was a passive bookrunner.
Co-managers were DNB Markets Inc., Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities USA Inc. and TD Securities (USA) LLC.
Proceeds will be used to repay outstanding borrowings under a credit facility and for general partnership purposes.
The energy company is based in Tulsa, Okla.
| Issuer: | Williams Partners LP
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Nov. 15, 2021
|
| Bookrunners: | Deutsche Bank Securities Inc., RBS Securities Inc., Scotia Capital (USA) Inc. (active), Credit Agricole Securities USA Inc. (passive)
|
| Co-managers: | DNB Markets Inc., Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities USA Inc., TD Securities (USA) LLC
|
| Coupon: | 4%
|
| Price: | 99.593
|
| Yield: | 4.05%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps until Aug. 15, 2021, after at par
|
| Trade date: | Nov. 14
|
| Settlement date: | Nov. 17
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
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