Enterprise Products Partners LP Sells Additional Common Units

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 $53.07 per common unit. Net proceeds from the sale of the additional 1,200,000 common units will approximate $62 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 $473 million. Enterprise intends to use the net proceeds to temporarily reduce borrowings under its 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.