Key Developments: Enterprise Products Partners LP (EPD.N)

EPD.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Enterprise Products Partners declares 41st consecutive quarterly distribution
Friday, 10 Oct 2014 01:04pm EDT 

Enterprise Products Partners LP:Declares uarterly cash distribution of $0.365 per common unit, or $1.46 per unit on an annualized basis.Payable on Nov. 7 to unitholders of record as of the close of business on Oct. 31.  Full Article

Enterprise prices $2.75 bln of senior unsecured notes
Thursday, 2 Oct 2014 04:28pm EDT 

Enterprise Products Partners LP:Announced that its operating subsidiary, Enterprise Products Operating, has priced a public offering of $2.75 bln of senior unsecured notes comprised of $800 mln due on Oct. 15, 2019, $1.15 bln due on Feb. 15, 2025, $400 mln due on March 15, 2044, and $400 mln due on Oct. 15, 2054.Net proceeds of this offering for the repayment of debt and for general company purposes.  Full Article

Enterprise Products Partners LP acquires General Partner and LP Interests in Oiltanking Partners; proposes merger of Oiltanking into Enterprise
Wednesday, 1 Oct 2014 09:00am EDT 

Enterprise Products Partners LP:Acquires general partner and related incentive distribution rights, 15,899,802 common units and 38,899,802 subordinated units in Oiltanking Partners L.P. (Oiltanking Partners) held by Oiltanking Holding Americas, Inc. (Oiltanking Holding).Enterprise paid total consideration of about $4.41 bln to Oiltanking Holding comprised of $2.21 bln in cash and 54,807,352 Enterprise common units.Enterprise also paid $228 mln to assume notes receivable issued by Oiltanking Partners.Upon payment of Oiltanking Partners' distribution with respect to third quarter of 2014, which is expected to be paid in mid-Nov. 2014, subordination period with respect to Oiltanking Partners subordinated units will end.At that time, subordinated units will convert into common units on one-for-one basis.Upon conversion, Enterprise will own 54,799,604 common units, or about 66 pct of Oiltanking Partners' then outstanding common units.In second step, Enterprise submitted proposal to conflicts committee of general partner of Oiltanking Partners to merge Oiltanking Partners with and into Enterprise.Under terms of proposal, Enterprise would exchange 1.23 Enterprise common units for each Oiltanking Partners common unit.Total consideration for this proposal would be $1.4 bln.Total consideration for step 1 and step 2, as proposed, would be about $6.0 bln.  Full Article

Enterprise Products Partners LP executes additional agreement for Ethane Export Terminal
Thursday, 31 Jul 2014 08:30am EDT 

Enterprise Products Partners LP:Executes an additional long-term contract to provide ethane storage, transportation, refrigeration and loading services from its new ethane export terminal that is currently under construction on the Houston Ship Channel.  Full Article

Enterprise Products Partners increases quarterly cash distribution
Thursday, 10 Jul 2014 09:07am EDT 

Enterprise Products Partners LP:Increases quarterly cash distribution paid to partners to $0.72 per common unit, or $2.88 per unit on an annualized basis.Quarterly distribution will be paid on Aug. 7, 2014, to unitholders of record as of the close of business on July 31, 2014.  Full Article

Enterprise Products Partners declares cash distribution
Tuesday, 8 Apr 2014 04:05pm EDT 

Enterprise Products Partners LP:Declares increase in the quarterly cash distribution rate paid to partners to $0.71 per common unit, or $2.84 per unit on an annualized basis.Quarterly distribution will be paid on May 7, to unitholders of record as of the close of business on April 30.  Full Article

Enterprise Products Partners LP prices $2 bln of senior unsecured notes
Wednesday, 5 Feb 2014 04:22pm EST 

Enterprise Products Partners LP:Says that its operating subsidiary, Enterprise Products Operating LLC has priced a public offering of $2 billion of senior unsecured notes comprised of $850 million due on Feb. 15, 2024 and $1.15 billion due on Feb. 15, 2045.Expects to use the net proceeds of this offering for the repayment of debt, including the repayment of amounts outstanding under our multi-year revolving credit facility, 364-day credit agreement or commercial paper program and for general company purposes.Says Senior Notes JJ will be issued at 99.811 pct of their principal amount and will have a fixed-rate interest coupon of 3.90 pct, and the Senior Notes KK will be issued at 99.845 pct of their principal amount and will have a fixed-rate interest coupon of 5.10 percent.Expects settlement date for the offering is Feb. 12, 2014.Says it will guarantee the senior notes through an unconditional guarantee on an unsecured and unsubordinated basis.Says Citigroup Global Markets Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., acted as joint book-running managers for the offering.Says Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., RBC Capital Markets, LLC and SunTrust Robinson Humphrey, Inc. acted as joint book-running managers for the offering.  Full Article

Enterprise Products Partners LP declares distribution
Monday, 13 Jan 2014 04:15pm EST 

Enterprise Products Partners LP:Says the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.70 per common unit, or $2.80 per unit on an annualized basis.Says the quarterly distribution will be paid on Feb. 7 to unitholders of record as of the close of business on Jan. 31.  Full Article

Enterprise Products Partners LP Sells Additional Common Units
Tuesday, 5 Nov 2013 06:09pm EST 

Enterprise Products Partners LP announced that the underwriters of its common unit offering, which priced this morning, have exercised their full over-allotment option to purchase 1,200,000 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 1,200,000 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. Barclays, BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities, Citigroup, Credit Suisse, Deutsche Bank Securities, Raymond James and RBC Capital Markets are joint book-running managers for the offering.  Full Article

Enterprise Products Partners LP Prices Public Unit Offering
Tuesday, 5 Nov 2013 09:07am EST 

Enterprise Products Partners LP announced that it has priced a public offering of 8,000,000 common units representing limited partner interests in the partnership at a public offering price of $62.05 per common unit. Enterprise has also granted the underwriters a 30-day option to purchase up to 1,200,000 additional common units to cover over-allotments, if any. Enterprise will use the net proceeds from this offering, including any exercise of the 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.  Full Article

Deals of the day- Mergers and acquisitions

(Adds Hochtief, Celulosa Arauco y Constitucion, Schneider Electric, Burton's Biscuits, Adama, CIC, Telecom Italia and Enterprise Products)

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