Enterprise Products Operating LLC, the operating subsidiary of Enterprise Products Partners LP (NYSE: EPD), priced a public offering of $2.75 billion of senior unsecured notes, Enterprise Products Partners said Oct. 2.
The total amount is comprised of $800 million in notes due Oct. 15, 2019, $1.15 billion in notes due Feb. 15, 2025, $400 million in notes due March 15, 2044 and $400 million due Oct. 15, 2054, the company added.
Net proceeds will repay outstanding debt under the credit agreement or commercial paper program. They will also repay outstanding amounts on the maturity of the $650 million, in principal amount, of senior notes due Oct. 15, and support general corporate purposes, the company said.
The offer is scheduled to close Oct. 14, the Houston-based midstream company said.
Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., DNB Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley (NYSE: MS), RBS Securities Inc., Scotiabank and UBS Investment Bank are joint book-running managers, the company said.
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