Energy Transfer Partners has launched the issue of 12 million common units in a public offering. Additionally, the company's underwriter has been granted a 30-day purchase option for an additional 1.8 million units. 

ETP did not specify the pricing or the exact timing of the offer. The firm's closing unit price on the day the issue was announced stood at $50.35.

The company said it would utilize the net proceeds of the offering to retire debt drawn from its revolving credit facility, and for "general partnership purposes."


Barclays unit Barclays Capital is the underwriter of the issue.

The article ETP Floats New Unit Issue originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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