Enterprise Products Partners Prices $500MM of Senior Notes

Enterprise Products Partners announced that its operating subsidiary, Enterprise Products Operating LLC, has priced a public offering of $500 million of senior unsecured notes due 2012. The proceeds from the offering are expected to be used to repay all amounts outstanding under the partnership's $200 million term loan, to temporarily reduce borrowings outstanding under the partnership's Multi-Year Revolving Credit Facility and for general partnership purposes.

The notes will be issued at 99.95 percent of their principal amount and will have a fixed-rate interest coupon of 4.60 percent and a maturity date of August 1, 2012. The expected settlement date for the offering is June 10, 2009. Enterprise Products Partners L.P. will guarantee the notes through an unconditional guarantee on an unsecured and unsubordinated basis.

Most Popular Articles