Williams Partners L.P. Prices Public Offering of Common Units and Concurrent Private Placement of Common Units

TULSA, Okla.--(BUSINESS WIRE)--Williams Partners L.P. (NYSE: WPZ) today announced that it priced a public offering of 11,250,000 of its common units representing limited-partner interests at $49.14 per unit. The offering is expected to close on March 8, 2013.

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 3,000,000 of its common units to 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 percent 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. Borrowings under the credit facility were used for general partnership purposes, including funding capital expenditures, working capital and partnership distributions.

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.

This news release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. A copy of the preliminary prospectus supplement and related base prospectus may be obtained on the SEC website at www.sec.gov or from any of the underwriters, including:

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Phone: [phone]
E-mail: [e-mail]

BofA Merrill Lynch
4 World Financial Center
New York, NY 10080
Attn: Prospectus Department
E-mail [e-mail]

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: [phone]
Email: [e-mail]

Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Email: [e-mail]
Phone: [phone]

UBS Investment Bank
Attention: Prospectus Department
299 Park Avenue
New York, NY 10171
Phone: [phone]

Deutsche Bank Securities
Attn: Prospectus Department
60 Wall Street
New York, NY 10005-2836
Email: [e-mail]
Phone: [phone]

Jefferies
520 Madison Avenue, 12th Floor
New York, NY 10022
Email: [e-mail]
Phone: [phone]

Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152
Email: [e-mail]
Phone: [phone]

About Williams Partners L.P. (NYSE: WPZ)

Williams Partners L.P. is a leading diversified master limited partnership focused on natural gas transportation; gathering, treating, and processing; storage; natural gas liquid (NGL) fractionation; and oil transportation. The partnership owns interests in three major interstate natural gas pipelines that, combined, deliver 14 percent of the natural gas consumed in the United States. The partnership’s gathering and processing assets include large-scale operations in the U.S. Rocky Mountains and both onshore and offshore along the Gulf of Mexico. Williams (NYSE: WMB) owns approximately 70 percent of Williams Partners, including the general-partner interest. More information is available at www.williamslp.com, where the partnership routinely posts important information.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the partnership believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the partnership’s annual reports filed with the Securities and Exchange Commission.