Energy Transfer Equity Announces Launch of New Credit Facility in Connection with Southern Union Acquisition

DALLAS--(BUSINESS WIRE)--Energy Transfer Equity, L.P. (NYSE: ETE) today announced that it has launched the syndication of a new senior secured credit facility of up to $2.30 billion. ETE intends to use the net proceeds from the senior secured credit facility, together with a portion of the proceeds from Southern Union Company’s (NYSE: SUG) contribution of its 50% interest in Citrus Corp. (“Citrus”) to Energy Transfer Partners, L.P. (NYSE:ETP) in exchange for $2.0 billion, to fund the cash portion of the purchase price of its previously announced acquisition of Southern Union Company and pay related fees and expenses, including existing borrowings under ETE’s revolving credit facility and for general partnership purposes.