SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: December 23, 2008
Date of earliest event reported: December 18, 2008
Energy Transfer Partners, L.P.
(Exact name of Registrant as specified in its charter)
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Delaware
(State or other jurisdiction
of incorporation)
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1-11727
(Commission File Number)
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73-1493906
(IRS Employer
Identification Number) |
3738 Oak Lawn Avenue
Dallas, TX 75219
(Address of principal executive offices)
(214) 981-0700
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On December 18, 2008, Energy Transfer Partners, L.P. (the “Partnership”) entered into an
underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. Incorporated,
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc. and Wachovia Capital Markets, LLC,
as joint book-running managers and representatives of the several underwriters named therein (the
“Underwriters”), relating to the public offering by the Partnership of $600 million aggregate
principal amount of 9.70% Senior Notes due 2019 (the “Notes”). The Notes have been registered
under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a Registration
Statement on Form S-3ASR (Registration No. 333-147990) of the Partnership, as supplemented by the
Prospectus Supplement dated December 18, 2008 relating to the Notes (the “Prospectus Supplement”),
filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on
December 19, 2008. Closing of the issuance and sale of the Notes is scheduled for December 23,
2008. A legal opinion related to the Notes is filed herewith as Exhibit 5.1.
The Underwriting Agreement provides that the obligations of the Underwriters to purchase the
Notes are subject to approval of legal matters by counsel and other customary conditions. The
Underwriters are obligated to purchase all the Notes if they purchase any of the Notes. The
Underwriting
Agreement contains customary representations, warranties and agreements by the Partnership and
customary conditions to closing. Additionally, the Partnership has agreed to indemnify the
Underwriters against certain liabilities, including liabilities under the Securities Act, or to
contribute to payments the Underwriters may be required to make because of any of those
liabilities. The summary of the Underwriting Agreement in this report does not purport to be
complete and is qualified by reference to such agreement, which is filed herewith as Exhibit 1.1
and is incorporated herein by reference.
The Prospectus Supplement provides that the Partnership will use net proceeds from the
offering to repay amounts outstanding under its revolving credit facility, to pay expenses
associated with the offering of the Notes and for general corporate purposes. Affiliates of each
of the Underwriters are agents and lenders under our revolving credit facility. Accordingly, each
of the Underwriters will receive proceeds from the offering of the Notes. In addition, from time
to time the Underwriters and their affiliates have engaged, and may in the future engage, in
commercial banking and/or investment banking transactions with us and our affiliates for which they
received or will receive customary fees and expenses.
The Notes are being issued under the Indenture dated as of January 18, 2005 (the “Indenture”),
between the Partnership, as issuer, the subsidiary guarantors named therein, and Wachovia Bank,
National Association, as trustee, as amended and supplemented by the Seventh Supplemental Indenture
thereto (the “Supplemental Indenture”), between the Partnership and U.S. Bank National Association,
as successor trustee, with respect to the Notes. The terms of the Notes and the Supplemental
Indenture are further described in the Prospectus Supplement under the captions “Description of
Notes” and “Description of the Debt Securities,” which description is incorporated herein by
reference and filed herewith as Exhibit 99.2. Such description does not purport to be complete and
is qualified by reference to the Indenture and the Supplemental Indenture, which are filed as
exhibits hereto and incorporated herein by reference.
On December 18, 2008, the Partnership issued a press release relating to the pricing of the
public offering of the Notes contemplated by the Underwriting Agreement. A copy of the press
release is furnished as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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1.1 |
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Underwriting Agreement dated December 18, 2008, by and among Energy
Transfer Partners, L.P. and Morgan Stanley & Co. Incorporated, Credit
Suisse Securities (USA) LLC, J.P. Morgan Securities Inc. and Wachovia
Capital Markets, LLC, , as representatives of the several
underwriters named therein. |
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4.1 |
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Indenture, dated as of January 18, 2005 between Energy Transfer
Partners, L.P., as issuer, the subsidiary guarantors named therein,
and Wachovia Bank, National Association, as trustee (filed as Exhibit
4.1 to Form 8-K of Energy Transfer Partners, L.P. filed January 19,
2005 and incorporated herein by reference). |
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4.2 |
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Form of Seventh Supplemental Indenture by and between Energy Transfer
Partners, L.P., as issuer, and U.S. Bank National Association (as
successor to Wachovia Bank, National Association), as trustee. |
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4.3 |
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Form of Notes (included in Exhibit 4.2 above). |
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5.1 |
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Opinion of Vinson & Elkins L.L.P. |
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23.1 |
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Consent of Vinson & Elkins L.L.P. (included in Exhibit 5.1). |
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99.1 |
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Press Release dated December 18, 2008. |
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99.2 |
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Description of Notes and Description of the Debt Securities. |