Power Switch LP Pronounces Pricing of $2.5 Billion of Senior Notes

DALLAS–(BUSINESS WIRE)–Power Switch LP (NYSE: ET) immediately introduced the pricing of its $1.0 billion combination principal quantity of 5.550% senior notes due 2028 and $1.5 billion combination principal quantity of 5.750% senior notes due 2033 at a value to the general public of 99.974% and 99.891%, respectively, of their face worth.

The sale of the senior notes is predicted to choose December 14, 2022, topic to the satisfaction of customary closing circumstances. Power Switch intends to make use of the web proceeds of roughly $2.482 billion (earlier than providing bills) from this providing to repay excellent indebtedness, and for basic partnership functions.

Barclays Capital Inc., BofA Securities, Inc., Deutsche Financial institution Securities Inc. and Wells Fargo Securities, LLC are appearing as joint book-running managers for the providing.

The providing of the senior notes is being made pursuant to an efficient shelf registration assertion and prospectus filed by Power Switch with the Securities and Change Fee (“SEC”). The providing of the senior notes could also be made solely via a prospectus and associated prospectus complement assembly the necessities of Part 10 of the Securities Act of 1933, as amended, copies of which can be obtained from the next addresses:

You might also acquire these paperwork totally free when they’re obtainable by visiting EDGAR on the SEC web site at www.sec.gov.

This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase the securities described herein, nor shall there be any sale of those securities in any state or jurisdiction wherein such a suggestion, solicitation or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction.

Power Switch LP owns and operates one of many largest and most diversified portfolios of power belongings in the US, with a strategic footprint in the entire main U.S. manufacturing basins. Power Switch is a publicly traded restricted partnership with core operations that embrace complementary pure fuel midstream, intrastate and interstate transportation and storage belongings; crude oil, pure fuel liquids (“NGL”) and refined product transportation and terminalling belongings; and NGL fractionation. Power Switch additionally owns Lake Charles LNG Firm, in addition to the final associate pursuits, the motivation distribution rights and 28.5 million frequent items of Sunoco LP (NYSE: SUN), and the final associate pursuits and 46.1 million frequent items of USA Compression Companions, LP (NYSE: USAC).

Statements in regards to the providing could also be forward-looking statements. Ahead-looking statements might be recognized by phrases comparable to “anticipates,” “believes,” “intends,” “initiatives,” “plans,” “expects,” “continues,” “estimates,” “targets,” “forecasts,” “could,” “will” and different comparable expressions. These forward-looking statements depend on plenty of assumptions regarding future occasions and are topic to plenty of uncertainties and elements, lots of that are outdoors the management of Power Switch, and a wide range of dangers that might trigger outcomes to vary materially from these anticipated by administration of Power Switch. Necessary details about points that might trigger precise outcomes to vary materially from these anticipated by administration of Power Switch might be present in Power Switch’s public periodic filings with the SEC, together with its Annual Report on Type 10-Ok. Power Switch undertakes no obligation to replace or revise forward-looking statements to replicate modified assumptions, the prevalence of unanticipated occasions or modifications to future working outcomes over time.