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Enterprise Products Partners LP Prices Public Unit Offering


Tuesday, 25 Sep 2012 08:48am EDT 

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 $53.07 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. Enterprise will use the net proceeds of approximately $412 million from this offering, including any exercise of the over-allotment option by the underwriters, to temporarily reduce borrowings under multi-year revolving credit facility and for general partnership purposes. Wells Fargo Securities, Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan, Morgan Stanley and UBS Investment Bank are joint book-running managers for the offering.