Energy Transfer LP completed an underwritten public offering on July 20, 2026, consisting of $650,000,000 in Series 2026A Junior Subordinated Notes due 2057 and $1,100,000,000 in Series 2026B Junior Subordinated Notes due 2057. The total offering amount equals $1.75 billion. The notes were issued under an indenture with U.S. Bank Trust Company, National Association, as trustee. Energy Transfer LP is an energy company that operates midstream assets.