Attached files
file | filename |
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8-K - FORM 8-K - Williams Partners L.P. | c61864e8vk.htm |
EX-1.1 - EX-1.1 - Williams Partners L.P. | c61864exv1w1.htm |
EX-5.1 - EX-5.1 - Williams Partners L.P. | c61864exv5w1.htm |
EX-8.1 - EX-8.1 - Williams Partners L.P. | c61864exv8w1.htm |
EX-99.2 - EX-99.2 - Williams Partners L.P. | c61864exv99w2.htm |
Exhibit 99.1
DATE: Dec. 13, 2010
MEDIA CONTACT:
|
INVESTOR CONTACT: | |
Jeff Pounds
|
Sharna Reingold | |
(918) 573-3332
|
(918) 573-2078 |
Williams Partners L.P. Announces Common Units Public Offering
TULSA, Okla. Williams Partners L.P. (NYSE: WPZ) today announced a public offering of 7.5
million of its common units, representing limited-partner interests. The units will be offered by
Williams Partners pursuant to an effective shelf registration statement on file with the Securities
and Exchange Commission.
Williams Partners expects to use the net proceeds from the common unit public offering for general
partnership purposes. These uses are expected to include the repayment of $200 million of
borrowings under the partnerships credit facility, as well as the funding of a portion of the
consideration for the acquisition of Cabot Oil & Gas midstream assets in Susquehanna County, Pa.
The acquisition of Cabots midstream assets was announced on Nov. 18 and is expected to be
completed before the end of 2010.
The borrowings under the partnerships credit facility have been used to fund a portion of the cash
consideration of the acquisition of Williams (NYSE: WMB) midstream assets in the Piceance Basin,
which was completed on Nov. 19, and for general partnership purposes.
Williams Partners is expected to grant the underwriters a 30-day option to purchase up to an
additional 1,125,000 common units to cover over-allotments, if any.
Williams will make a cash contribution to Williams Partners in order to maintain its 2-percent
general-partner interest in the partnership. As a result of the offering, Williams
limited-partner interest in the partnership will be reduced from its current level of approximately
75 percent to approximately 73 percent. It will be reduced further if the underwriters exercise
their over-allotment option.
Barclays Capital, Citi, BofA Merrill Lynch, Morgan Stanley, and J.P. Morgan are acting as joint
book-running
managers. In addition, Credit Suisse, Goldman Sachs & Co., RBC Capital Markets, UBS
Investment Bank, and
Wells Fargo Securities have been named as co-managing underwriters.
This news release is neither an offer to sell nor a solicitation of an offer to buy any of these
securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which
such offer, solicitation or sale is unlawful. A copy of the preliminary prospectus supplement and
related base prospectus may be obtained on the SEC website at www.sec.gov or from any of
the underwriters, including:
Barclays Capital
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Toll-free: 1-888-603-5847
E-mail: Barclaysprospectus@broadridge.com
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Toll-free: 1-888-603-5847
E-mail: Barclaysprospectus@broadridge.com
Citi
Attention: Prospectus Delivery Department
Brooklyn Army Terminal
140 58th Street, 8th floor
Brooklyn, NY 11220
Toll free: 800-831-9146
E-mail: batprospectusdept@citi.com
Attention: Prospectus Delivery Department
Brooklyn Army Terminal
140 58th Street, 8th floor
Brooklyn, NY 11220
Toll free: 800-831-9146
E-mail: batprospectusdept@citi.com
BofA Merrill Lynch
4 World Financial Center
New York, NY 10080
Attn: Prospectus Department
E-mail: dg.prospectus_requests@baml.com
4 World Financial Center
New York, NY 10080
Attn: Prospectus Department
E-mail: dg.prospectus_requests@baml.com
Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
E-mail: prospectus@morganstanley.com
Phone: 866-718-1649
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
E-mail: prospectus@morganstanley.com
Phone: 866-718-1649
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (866) 803-9204
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (866) 803-9204
About Williams Partners L.P. (NYSE: WPZ)
Williams Partners L.P. is a leading diversified master limited partnership focused on natural gas
transportation; gathering, treating, and processing; storage; natural gas liquid (NGL)
fractionation; and oil transportation. The
partnership owns interests in three major interstate
natural gas pipelines that, combined, deliver 12 percent of the natural gas consumed in the United
States. The partnerships gathering and processing assets include
large-scale operations in the U.S. Rocky Mountains and both onshore and offshore along the Gulf of
Mexico. Williams (NYSE: WMB) owns approximately 77 percent of Williams Partners, including the
general-partner interest. More information is available at www.williamslp.com. Go to
http://www.b2i.us/irpass.asp?BzID=1296&to=ea&s=0 or
http://www.b2i.us/irpass.asp?BzID=630&to=ea&s=0 to join our email list.
# # #
Portions of this document may constitute forward-looking statements as defined by federal
law. Although the partnership believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially different. Any such statements
are made in reliance on the safe harbor protections provided under the Private Securities Reform
Act of 1995. Additional information about issues that could lead to material changes in performance
is contained in the partnerships annual reports filed with the Securities and Exchange Commission.