Energy Transfer Partners (NYSE: ETP ) 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.
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