Debt Obligations

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Debt Obligations

DEBT OBLIGATIONS

ETP Senior Notes Redemption

In October 2017, ETP redeemed all of the outstanding$500 millionaggregate principal amount of ETLP’s6.50%senior notes due July 2021 and all of the outstanding$700 millionaggregate principal amount of ETLP’s5.50%senior notes due April 2023.The aggregate amount paid to redeem these notes, including call premiums, was approximately$1.23 billion.

Credit Facilities and Commercial Paper

ETLP Credit Facility

The ETLP Credit Facility allows for borrowings of up to$3.75 billionand matures in November 2019. The indebtedness under the ETLP Credit Facility is unsecured, is not guaranteed by any of the Partnership’s subsidiaries and has equal rights to holders of our current and future unsecured debt. In September 2016, ETLP initiated a commercial paper program under the borrowing limits established by the$3.75 billionETLP Credit Facility.As ofSeptember 30, 2017, the ETLP Credit Facility had$2.06 billionof outstanding borrowings, all of which was commercial paper.

Bakken Credit Facility

In August 2016, Energy Transfer Partners, L.P., Sunoco Logistics and Phillips 66 completed project-level financing of the Bakken Pipeline. The $2.50 billioncredit facility provides substantially all of the remaining capital necessary to complete the projects. As ofSeptember 30, 2017, $2.50 billionwas outstanding under this credit facility.

PennTex Revolving Credit Facility

PennTex previously maintained a$275 millionrevolving credit commitment (the “PennTex Revolving Credit Facility”).In August 2017, the PennTex Revolving Credit Facility was repaid and terminated.

Compliance with Our Covenants

We were in compliance with all requirements, tests, limitations, and covenants related to our credit agreements as ofSeptember 30, 2017.