Enterprise Products Partners Prices Public Offering
Enterprise Products Partners L.P. has priced a public offering of 11,000,000 common units representing limited partner interests at a price of $25.80 per unit. Enterprise will receive net proceeds after offering expenses in connection with this offering of approximately $278.3 million, including the general partner's proportionate capital contribution of $5.6 million. Enterprise has granted the underwriters a 30-day option to purchase an additional 1,650,000 additional common units.
Enterprise plans to use the net proceeds from this offering to temporarily reduce borrowings currently outstanding under its multi-year revolving credit facility and for general partnership purposes.
Citigroup Global Markets Inc. and UBS Securities LLC are acting as joint book-running managers for the offering. Senior co-managers for the offering are Goldman, Sachs & Co., Lehman Brothers Inc., Morgan Stanley & Co. Incorporated and Wachovia Capital Markets, LLC. Co-managers for the offering are A.G. Edwards & Sons, Inc., Raymond James & Associates, Inc., RBC Capital Markets Corporation, Sanders Morris Harris Inc., Banc of America Securities LLC, Natexis Bleichroeder Inc. and Oppenheimer & Co. Inc.
- Enterprise Breaks Ground on Another NGL Expansion (Sep 05)
- Enterprise Products Partners To Expand Seaway Pipeline Capacity (Aug 01)
- Offshore Texas Oil Terminal Could Load Asia-, Europe-bound VLCCs (Jul 17)