EPP Prices Public Offering of Units

Enterprise Products Partners L.P. has priced a public offering of 9,500,000 common units representing limited partner interests at a public offering price of $32.42 per common unit. Enterprise has also granted the underwriters a 30-day option to purchase up to 1,425,000 additional common units to cover over-allotments, if any. Enterprise intends to use the net proceeds, after expenses, of approximately $304 million (including a net capital contribution of approximately $6 million from its general partner to maintain a 2% general partner interest) to temporarily reduce borrowings outstanding under its multi-year revolving credit facility and for general partnership purposes. Enterprise expects to use some of the increased availability under the facility to finance capital expenditures and other growth projects.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $50.2/BBL 3.29%
Light Crude Oil : $47.89/BBL 3.34%
Natural Gas : $2.94/MMBtu 1.37%
Updated in last 24 hours