A midstream energy company that moves natural gas, crude oil, and natural gas liquids through tens of thousands of miles of pipelines across the U.S., including the Mont Belvieu NGL Complex and the Mariner East system. Founded in 1996 by Kelcy Warren and Ray Davis as a small Texas pipeline operator, it grew through acquisitions to become one of the nation's largest energy infrastructure networks. Its name reflects its focus on transferring energy from source to market—a fitting label for a business built on moving fuel around the country.
Energy Transfer LP completes $1.75B offering of junior subordinated notes due 2057
The notes were issued under an indenture dated December 14, 2022, supplemented by the Eleventh and Twelfth Supplemental Indentures dated July 20, 2026.
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Energy Transfer LP completed a public offering of $650 million Series 2026A and $1.1 billion Series 2026B Junior Subordinated Notes, both due 2057.
U.S. Bank Trust Company, National Association serves as trustee for the notes.
The offering was registered under the Securities Act via a Form S-3ASR effective June 6, 2024, with a prospectus supplement dated July 6, 2026.
The filing also includes the legal opinion of Latham & Watkins LLP and forms of the notes as exhibits.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Energy Transfer prices $1.75B junior subordinated notes offering
Energy Transfer LP priced $650M of 6.550% Series 2026A notes and $1.1B of 6.700% Series 2026B notes, both due 2057, at 100% of face value.
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The offering is expected to close on July 20, 2026, subject to customary closing conditions.
Net proceeds of approximately $1.7325B will be used to redeem all outstanding 6.500% Series H Preferred Units (redeemable from August 15, 2026), refinance existing debt, and for general partnership purposes.
Citigroup, J.P. Morgan, PNC Capital Markets, TD Securities, and Truist Securities are joint book-running managers.
The notes are being offered under an effective shelf registration statement and prospectus supplement filed with the SEC.
1.01 Entry into a Material Definitive Agreement · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Energy Transfer Co-CEO Mackie McCrea to retire by Dec. 31, 2026; Tom Long to become sole CEO
McCrea will remain Co-CEO and a Board member until retirement, then continue serving on the Board.
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Marshall S. 'Mackie' McCrea III, Co-CEO of Energy Transfer LP, notified the Partnership on June 1, 2026, of his intention to retire on or before December 31, 2026.
Thomas E. Long, current Co-CEO, will become sole CEO upon McCrea's retirement.
The Compensation Committee approved accelerated vesting of 10% of eligible unvested restricted units and cash restricted units in exchange for a release of claims, and 50% in consideration of restrictive covenants.
McCrea will enter a Restrictive Covenant and Separation Agreement including a 12-month non-compete/non-solicit, non-disparagement, and cooperation clauses.
The remaining 40% of eligible unvested awards will vest under qualified retirement provisions, subject to a six-month delay per Section 409A.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Energy Transfer LP completes $3.0 billion senior notes offering across three tranches
The notes were issued under an indenture dated December 14, 2022, as supplemented by a Tenth Supplemental Indenture dated January 27, 2026, with U.S. Bank Trust Company as trustee.
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Energy Transfer LP completed a $3.0 billion underwritten public offering of senior notes on January 27, 2026.
The offering comprised $1.0 billion of 4.550% Senior Notes due 2031, $1.0 billion of 5.350% Senior Notes due 2036, and $1.0 billion of 6.300% Senior Notes due 2056.
The offering was registered under the Securities Act via a Form S-3ASR registration statement effective June 6, 2024, with a prospectus supplement filed January 14, 2026.
The filing also includes the legal opinion of Latham & Watkins LLP and forms of the senior notes as exhibits.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Energy Transfer prices $3.0B of senior notes in three tranches due 2031, 2036, 2056
The offering is expected to close on January 27, 2026, subject to customary closing conditions.
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Energy Transfer LP entered into an underwriting agreement on January 12, 2026, to sell $1.0 billion each of 4.550% senior notes due 2031, 5.350% senior notes due 2036, and 6.300% senior notes due 2056.
Net proceeds of approximately $2.97 billion (before offering expenses) will be used to refinance existing indebtedness, including repaying commercial paper and revolving credit facility borrowings, and for general partnership purposes.
Joint book-running managers are BofA Securities, Deutsche Bank Securities, Mizuho, MUFG, and SMBC Nikko.
The notes were priced at 99.830%, 99.933%, and 99.842% of face value for the 2031, 2036, and 2056 notes, respectively.
1.01 Entry into a Material Definitive Agreement · 8.01 Other Events · 9.01 Financial Statements and Exhibits