EFTA Document EFTA01378339

INTERNAL USE ONLY DO NOT DISTRIBUTE IN PART OR IN WHOLE Corporate Credit > U.S. High Yield Energy Transfer Equity Updated: November 6, 2015 Trade Idea: ► Buy 5.875% 2024 Bonds Investment Rationale: ► Energy Transfer Equity reached an agreement to merge with Williams Cos., an investment grade entity. It will create, according to the company, the largest energy infrastructure company in the US. The benefit of the merger is to make the assets across the companies more efficient and synerg