ETP Swapping $2.5B of Old Debt for New Debt, Floats Notes

Energy Transfer Partners (ETP) is buying Regency Energy Partners and assuming $6.8 billion worth of debt in the process (see Energy Transfer Partners Buys Regency Energy for $25B). Apparently it’s time to clean up the old debt ETP has on the books, so they’re floating notes (or IOUs) looking to trade $2.5 billion worth of new debt for old debt…

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