Energy Transfer LP has successfully priced a three-tranche senior notes offering totaling $3.0 billion. The company issued $1.0 billion of 4.550% notes due 2031 at 99.830% of face value, $1.0 billion of 5.350% notes due 2036 at 99.933%, and $1.0 billion of 6.300% notes due 2056 at 99.842%. Proceeds from the sale will be used for general partnership purposes, including refinancing existing debt. The transaction is expected to settle on December 15, 2023, strengthening the partnership’s long-term debt maturity profile and locking in fixed rates well below its historical weighted average cost of debt.

In the third quarter, Benjamin Edwards Inc. increased its holdings in Energy Transfer by 32.1%, acquiring an additional 45,047 units to reach 185,504 units valued at $3.18 million at period end. Several other institutional investors also adjusted positions: Kingstone Capital Partners Texas LLC initiated a $168.9 million stake in the second quarter; Northside Capital Management LLC opened a $34.2 million position over the same period; MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake by 9.3% to 21.35 million units worth $387.1 million; Jump Financial LLC expanded its position by 2,687.9% to 1.79 million units valued at $32.5 million; and Corient Private Wealth LLC boosted holdings by 223.7% to 1.69 million units worth $30.7 million. Institutional ownership now accounts for 38.22% of outstanding units, reflecting continued confidence among large investors in Energy Transfer’s cash-flow stability and dividend yield profile.