Williams Partners prices offering at $49.14 per unit
BY Staff and Wire Reports
Wednesday, March 06, 2013
3/06/13 at 2:26 AM
Williams Partners has priced a public offering of 11.25 million common units at $49.14 per unit, the Tulsa-based natural gas infrastructure company reported Tuesday. The offering is expected to close Friday.
The partnership also will sell 3 million common units to Williams Cos. Inc. in a private placement. Williams Cos. will own about 68 percent of Williams Partners once the public offering is completed.
Underwriters have a 30-day option to buy up to 1,687,500 additional common units.
Williams Partners originally announced plans for a 10-million-unit public offering. The offering was upsized due to increased demand by institutional investors overnight, Williams spokesman Tom Droege said Tuesday.
Units of Williams Partners fell $1.69, or 3.3 percent, to finish Tuesday at $48.86 on the New York Stock Exchange. They have traded in a 52-week range of $45.01 to $61.47.