Transco launches exchange offer for $1.7 billion in senior notes

Transcontinental Gas Pipe Line Company, LLC, a subsidiary of The Williams Companies, Inc. (NYSE: WMB), announced it has commenced an exchange offer for $1.7 billion in outstanding senior notes.

The offer covers $1.0 billion of 5.100% Senior Notes due 2036 and $700 million of 5.750% Senior Notes due 2056. Transco will exchange these notes for an equal amount of registered securities with identical terms, according to a company statement.

The exchange notes carry the same interest rates and maturity dates as the original securities. The primary difference is that the new notes are registered under the Securities Act of 1933 and do not include transfer restrictions or registration rights provisions that apply to the original notes.

Transco stated the exchange offer fulfills obligations under a registration rights agreement entered when the original notes were issued. The company will not receive proceeds from the transaction.

The offer expires at 5:00 p.m. Eastern Time on April 6, 2026, unless extended. Settlement will occur promptly after the expiration date.

The Bank of New York Mellon Trust Company, N.A. serves as the exchange agent. Terms and conditions are detailed in a prospectus dated March 9, 2026, filed with the Securities and Exchange Commission.

Williams operates natural gas infrastructure that delivers approximately one-third of the nation's natural gas supply. The company's subsidiary Transco operates interstate natural gas pipeline systems.

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