Latham & Watkins Advises Energy Transfer in Its US$3 Billion Offering of Senior Notes and US$800 Million Offering of Junior Subordinated Notes

Energy Transfer LP (NYSE: ET) has announced the pricing of its concurrent offerings of US$1.25 billion aggregate principal amount of 5.550% senior notes due 2034, US$1.75 billion aggregate principal amount of 5.950% senior notes due 2054, and US$800 million aggregate principal amount of 8.00% fixed-to-fixed reset rate junior subordinated notes due 2054 at a price to the public of 99.660%, 99.523%, and 100.000%, respectively, of their face value.

Latham & Watkins LLP advised Energy Transfer in the transaction with a corporate deal team led by Austin partner Samuel Rettew and Houston partner Kevin Richardson, with associates Lucas Balchun, Michael Pascual, Janhavi Das, and Kevin Donovan. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associate Dylan White; and on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Jacqueline Zhang.