Williams Partners L.P. (WPZ: Quote) said it has priced a public offering of 8.50 million of its common units representing limited-partner interests at $51.43 per unit. The offering may close on Aug. 13, 2012. The company has also granted the underwriters a 30-day option to buy up to an additional 1.275 million common units.
Williams Partners intends to use the net proceeds from the offering to repay amounts outstanding under the partnership's credit facility, while borrowings under the credit facility were used to fund capital expenditures and working capital. To the extent there are net proceeds from this offering in excess of the outstanding balance under the credit facility, they would be used for general partnership purposes.
Barclays, Citigroup, BofA Merrill Lynch, Jefferies & Company, Inc., Morgan Stanley, UBS Investment Bank, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers.
Click here to receive FREE breaking news email alerts for Williams Partners L.P. and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News