Debt | Capital Markets
Regency Initiates Offering to Fund Southern Union Acquisition
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Regency Energy Partners LP has announced a private offering of $600 million of its senior notes due 2023.
Regency Energy Finance Corp., a wholly owned direct subsidiary of Regency, will serve as co-issuer of the notes.
Regency intends to use the net proceeds from the offering to fund the cash portion of the consideration for its previously announced acquisition of Southern Union Gathering Company LLC (the SUGS Acquisition) from Southern Union Company, a jointly owned affiliate of Energy Transfer Equity L.P. and Energy Transfer Partners L.P.
If the SUGS Acquisition does not close on or prior to September 1, 2013, or if the contribution agreement relating to the SUGS Acquisition is terminated at any time prior to the consummation thereof, we will be required to redeem all of the notes in…
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