Energy Transfer Equity amends, providing for additional $1.3 billion term loan

By Sara Rosenberg

New York, Nov. 2 - Energy Transfer Equity LP amended its credit facility, providing for a $1.3 billion additional term loan, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Proceeds from the incremental term loan were used to fund the acquisition of about 26.1 million new class G units of Energy Transfer Partners, LP for $1.2 billion.

The amendment and funding of the term loan was completed on Nov. 1.

Wachovia is the administrative agent on the deal.

Energy Transfer Equity is the Dallas-based owner of all the general partner interests in Energy Transfer Partners, an owner and operator of energy assets.

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