Energy Transfer entered into an Underwriting Agreement for a public offering of $650 million Series 2026A and $1.1 billion Series 2026B junior subordinated notes due 2057. The 2026A notes will bear interest at 6.550% and the 2026B notes at 6.700%, with closing expected on Jul 20, 2026. Net proceeds of about $1.7325 billion (before expenses) will be used to redeem Series H preferred units starting Aug 15, 2026, refinance debt including commercial paper and revolver borrowings, and for general purposes.
Agreement details:
- Agreement type: Underwriting agreement for $1.75 billion junior subordinated notes offering
- Counterparty: Citigroup Global Markets, J.P. Morgan Securities, PNC Capital Markets, TD Securities (USA), Truist Securities (as representatives of the underwriters)
- Signed / Effective: Jul 06 2026 / same
- Duration / Termination: Until expected closing on Jul 20 2026
- Reason: Refinance debt and redeem Series H preferred units; general partnership purposes
Original SEC Filing:
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