Regency Energy Partners LP (RGP) announced the pricing of a private offering of $600 million in aggregate principal amount of 4.500% Senior Notes due 2023.
Regency said that its wholly owned direct subsidiary, Regency Energy Finance Corp. will serve as co-issuer of the notes. The sale of the notes is expected to settle on April 30, 2013, subject to the satisfaction of customary closing conditions.
Regency stated it plans 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 from Southern Union Company, a jointly owned affiliate of Energy Transfer Equity, L.P. (ETE) and Energy Transfer Partners, L.P. (ETP).
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