Enterprise Prices $1.0 Billion Principal Amount of Senior Notes
September 07 2021 - 7:26PM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”)
today announced that its operating subsidiary, Enterprise Products
Operating LLC (“EPO”), has priced a public offering of $1.0 billion
principal amount of Senior Notes EEE due February 15, 2053.
Enterprise expects to use the net proceeds of this offering for
general company purposes, including for growth capital investments,
and the repayment of debt (including the repayment of a portion of
our $750 million principal amount of 3.50 percent Senior Notes VV
due in February, 2022, and/or a portion of our $650 million
principal amount of 4.05 percent Senior Notes CC also due in
February, 2022).
The Senior Notes EEE will be issued at 99.170 percent of their
principal amount and will have a fixed-rate interest coupon of 3.30
percent. Enterprise Products Partners L.P. will guarantee the
senior notes through an unconditional guarantee on an unsecured and
unsubordinated basis. Settlement of the offering is expected to
occur on September 15, 2021.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., SG
Americas Securities, LLC and U.S. Bancorp Investments, Inc. acted
as joint book-running managers for the offering. An investor may
obtain a free copy of the prospectus as supplemented for the
offering by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, EPO or any underwriter or dealer participating in
this offering will arrange to send a prospectus as supplemented to
an investor if requested by contacting Citigroup Global Markets
Inc. at (800) 831-9146, Deutsche Bank Securities Inc. at (800)
503-4611, SG Americas Securities, LLC at (855) 881-2108, U.S.
Bancorp Investments, Inc. at (877) 558-2607.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described in this
press release, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. The offering is being
made only by means of a prospectus and related prospectus
supplement, which are part of an effective registration
statement.
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of
midstream energy services to producers and consumers of natural
gas, NGLs, crude oil, refined products and petrochemicals. Services
include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage and export and import terminals; crude oil gathering,
transportation, storage and export and import terminals;
petrochemical and refined products transportation, storage, export
and import terminals and related services; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership’s
assets include approximately 50,000 miles of pipelines; 260 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity.
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version on businesswire.com: https://www.businesswire.com/news/home/20210907005939/en/
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866)
230-0745, rburkhalter@eprod.com Rick Rainey, Media Relations, (713)
381-3635, rrainey@eprod.com
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