Energy Transfer Partners Files Form 8-K with SEC: Overview of Recent Financial Obligations and Guarantees

Energy Transfer Partners, L.P, a Delaware-based entity, has filed a Current Report (FORM 8-K) with the Securities and Exchange Commission on June 01, 2015. The report relates to the company's acquisition of Regency Energy Partners LP and the subsequent agreement to guarantee payment obligations under a $600.0 million senior notes issuance. Key to the agreement is the release of Panhandle Eastern Pipe Line Company, LP's obligations under the Panhandle Guarantee, effective May 28, 2015.

Key Takeaways:

• Energy Transfer Partners, L.P, a Delaware-based entity, filed a Current Report (FORM 8-K) with the Securities and Exchange Commission on June 01, 2015.
• The report pertains to the acquisition of Regency Energy Partners LP and the agreement to guarantee payment obligations under a $600.0 million senior notes issuance.
• The Panhandle Guarantee, which committed Panhandle Eastern Pipe Line Company, LP to ensure the payment obligations of Regency and Regency Energy Finance Corp, has been released due to a supplemental indenture dated May 28, 2015.
• This supplemental indenture manifests a modification to the terms of the original agreement, allowing Energy Transfer Partners to become a co-obligor with respect to the payment obligations under the senior notes.
• The financial obligations of Regency and Regency Energy Finance Corp under the senior notes now directly fall under the responsibility of Energy Transfer Partners and the subsidiary guarantors.
• Energy Transfer Partners, L.P has agreed to provide unconditional guarantees for the payment obligations related to the senior notes.
• The agreement with Wells Fargo Bank, National Association, as trustee, is part of the terms outlined in the supplemental indenture dated May 28, 2015.

Statistics:

• The $600,000,000 aggregate principal amount of 4.500% Senior Notes due 2023 was issued by Regency Energy Partners LP and Regency Energy Finance Corp.
• Energy Transfer Partners, L.P has a total of $600,000,000 of senior notes obligations it has guaranteed.
• The supplemental indenture adopted on May 28, 2015, releases Panhandle Eastern Pipe Line Company, LP's obligations under the Panhandle Guarantee.
• The guarantor's obligations for payment under the senior notes before their release were managed by Panhandle, within the framework of the Panhandle Guarantee.