By Aleesia Forni
Virginia Beach, June 24 – Williams Partners LP sold $1.25 billion of senior notes (Baa2/BBB/BBB) in a two-tranche offering on Tuesday, according to a market source.
A $750 million tranche of 3.9% 10.5-year notes priced at 99.69 to yield 3.936%, or Treasuries plus 135 basis points.
A $500 million tranche of 4.9% 30.5-year notes priced at 99.229 to yield 4.949%, or Treasuries plus 155 bps.
The bookrunners were Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and RBS Securities Inc.
Proceeds will be used to repay amounts outstanding under the company’s commercial paper program, to fund capital expenditures and for general partnership purposes.
Tulsa, Okla.-based Williams finds, produces, gathers, processes and transports natural gas.
| Issuer: | Williams Partners LP
|
| Issue: | Senior notes
|
| Amount: | $1.25 billion
|
| Joint bookrunners: | Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, RBS Securities Inc.
|
| Trade date: | June 24
|
| Settlement date: | June 27
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
|
|
| 10.5-year notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 15, 2025
|
| Coupon: | 3.9%
|
| Price: | 99.69
|
| Yield: | 3.936%
|
| Spread: | Treasuries plus 135 bps
|
|
|
| 30.5-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2045
|
| Coupon: | 4.9%
|
| Price: | 99.229
|
| Yield: | 4.949%
|
| Spread: | Treasuries plus 155 bps
|
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