Enterprise Prices $1.1 Billion of Senior Notes

Enterprise Products Partners L.P. ("EPD") announced that its operating subsidiary, Enterprise Products Operating LLC ("EPO"), has priced a public offering of $500 million of senior unsecured notes due 2020 and $600 million of senior unsecured notes due 2039. The proceeds from the offering are expected to be used to repay, at maturity, $500 million in aggregate principal amount of EPO's senior notes due October 2009, to temporarily reduce borrowings outstanding under EPO's multi-year revolving credit facility, and for general partnership purposes. The partnership expects to use some of the increased availability under its multi-year revolving credit facility to repay and terminate indebtedness under TEPPCO's credit facility upon the completion of the merger with TEPPCO, and to finance capital expenditures and other growth projects.

The notes due 2020 will be issued at 99.355 percent of their principal amount and will have a fixed-rate interest coupon of 5.25 percent and a maturity date of January 31, 2020. The notes due 2039 will be issued at 99.386 percent of their principal amount and will have a fixed-rate interest coupon of 6.125 percent and a maturity date of October 15, 2039. The expected settlement date for the offering is October 5, 2009.

Enterprise Products Partners L.P. will guarantee the notes through an unconditional guarantee on an unsecured and unsubordinated basis.
 

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