Enterprise Products Partners LP announced that the underwriters of its common unit offeringexercised their full over-allotment option to purchase 1.2 million additional common units. These units represent limited partner interests in Enterprise and were priced to the public at $62.05 per common unit.
Net proceeds from the sale of the additional 1.2 million common units will approximate $72 million after deducting underwriting discounts, commissions and offering expenses. The total net proceeds from the offering, including the exercise of the over-allotment option, will approximate $553 million. Enterprise intends to use the net proceeds from this offering, including the exercise of the full over-allotment option by the underwriters, for general partnership purposes, which may include repayment of debt, including the repayment of amounts outstanding under its multi-year revolving credit facility, 364-day credit agreement or commercial paper program, working capital, capital expenditures (including a portion of growth capital expenditures for the remainder of 2013 and 2014) and acquisitions.
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