Williams to pay off $850 million term loan with Olefins sale proceeds

By Wendy Van Sickle

Columbus, Ohio, July 7 –Williams Partners LP plans to use some proceeds from its sale of its membership interest in Williams Olefins LLC to pay off its $850 million term loan, according to a press release.

Williams Partners sold the membership interest in the owner of 88.46% of the Geismar, La., olefins plant and complex to Nova Chemicals for $2.1 billion.

Proceeds will also fund a portion of the capital and investment expenditures that are a part of the partnership’s growth portfolio.

Williams is a Tulsa, Okla.-based energy infrastructure company.

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