Transcontinental Gas Pipe Line Company, LLC (“Transco”), a wholly owned
subsidiary of Williams Partners L.P. (NYSE: WPZ), announced that it has
priced its previously announced offering of senior notes.
The $1 billion in aggregate principal amount of senior notes due 2026,
scheduled to be delivered on January 22, 2016, were priced with a 7.85
percent coupon and at an offering price of 99.825 percent of par, with a
yield to investors of 7.875 percent.
Transco intends to use the net proceeds from the offering to repay
indebtedness, including our $200 million of 6.40 percent notes due 2016
upon their maturity on April 15, 2016, and to fund capital expenditures.
The notes will be offered pursuant to certain exemptions from
registration under the Securities Act of 1933, as amended (the
“Securities Act”). The offering of the notes has not been registered
under the Securities Act or applicable state securities laws. The notes
may not be offered or sold in the United States absent registration or
an applicable exemption from such registration requirements.
This press release is for informational purposes only and does not
constitute an offer to sell or a solicitation of an offer to buy the
notes described in this press release, nor shall there be any sale of
the notes in any state or jurisdiction in which such an offer, sale or
solicitation would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction.
Portions of this document may constitute “forward-looking statements” as
defined by federal law. Although Transco believes any such statements
are based on reasonable assumptions, there is no assurance that actual
outcomes will not be materially different. Additional information about
issues that could lead to material changes in performance is contained
in Transco’s annual and quarterly reports filed with the Securities and
Exchange Commission.
About Williams Partners
Williams Partners (NYSE: WPZ) is an industry-leading, large-cap natural
gas infrastructure master limited partnership with a strong growth
outlook and major positions in key U.S. supply basins and also in
Canada. Williams Partners has operations across the natural gas value
chain from gathering, processing and interstate transportation of
natural gas and natural gas liquids to petchem production of ethylene,
propylene and other olefins. Williams Partners owns and operates more
than 33,000 miles of pipelines system wide – including the nation’s
largest volume and fastest growing pipeline – providing natural gas for
clean-power generation, heating and industrial use. Williams Partners’
operations touch approximately 30 percent of U.S. natural gas. Tulsa,
Okla.-based Williams (NYSE: WMB), a premier provider of large-scale
North American natural gas infrastructure, owns 60 percent of Williams
Partners, including all of the 2 percent general-partner interest. www.williams.com
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Copyright Business Wire 2016
Source: Business Wire
(January 19, 2016 - 5:57 PM EST)
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