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4 months ago
BRIEF-Energy Transfer Equity invests $300 mln in Sunoco LP through preferred equity private placement
March 30, 2017 / 9:06 PM / 4 months ago

BRIEF-Energy Transfer Equity invests $300 mln in Sunoco LP through preferred equity private placement

1 Min Read

March 30 (Reuters) - Energy Transfer Equity LP

* Energy Transfer Equity invests $300 million in Sunoco LP through preferred equity private placement

* Energy Transfer Equity LP says proceeds from preferred unit issuance will be used by Sun to repay borrowings under its revolving credit facility

* Energy Transfer Equity LP - purchase of Sun preferred units by Ete has been approved by board of directors of both partnerships

* Energy Transfer Equity - distribution rate of 10.00 pct/annum of stated liquidation preference of $25.00 to change to annual floating rate of 3-month libor plus spread of 8.0 pct Source text for Eikon: Further company coverage:

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