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    Williams Partners increases public offering, plans private offer to affiliate

    Williams Partners LP (NYSE: WPZ) has priced a public offering of 11.25 million of its common units representing limited-partner interests at $49.14 per unit. The offering is expected to close on March 8, 2013.

    The number of units offered is up from the 10 million units announced March 4.

    Williams Partners also granted the underwriters a 30-day option to purchase up to an additional 1,687,500 common units.

    In addition, Williams Partners has agreed to sell 3 million of its common units to affiliate Williams (NYSE: WMB) in a private placement at a price per common unit equal to the public offering price in the offering, less the underwriting discount and commissions. Upon the closing of the public offering and the private placement, Williams will own approximately 68% of Williams Partners, including the general-partner interest.

    Williams Partners plans to use the net proceeds from the public offering and the private placement to repay amounts outstanding under the partnership's credit facility.

    Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities, Jefferies and Wells Fargo Securities are acting as joint book-running managers. In addition, Credit Suisse, Goldman, Sachs & Co., J.P. Morgan, Raymond James and RBC Capital Markets have been named as co-managing underwriters.

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