Energy Transfer LP Announces Pricing of $2.0 Billion Junior Subordinated Notes

Summary

On August 11, 2025, Energy Transfer LP announced the pricing of its offering of $1.2 billion Series 2025A junior subordinated notes and $800 million Series 2025B junior subordinated notes. The offering is expected to close on August 25, 2025, subject to customary conditions. The Partnership intends to use the net proceeds to repay borrowings under its revolving credit facility and for general partnership purposes. The offering was registered under the Securities Act of 1933 and the notes are expected to bear interest at annual rates of 6.500% and 6.750%, respectively.