Enterprise Products Operating LLC (EPO), the operating subsidiary of Enterprise Products Partners LP, priced a public offering of $2.5 billion of senior unsecured notes, the company said May 4.
The OO notes--$750 million—are due May 7, 2018. The PP notes--$875 million—are due Feb. 15, 2026 and the QQ notes--$875 million—are due May 15, 2046.
The net proceeds will repay outstanding commercial paper program debts and outstanding amounts on the maturity of EPO’s $400 million principal amount of X notes due June 2015. They will also support general company purposes.
The offer is scheduled to close May 7.
Wells Fargo Securities LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities USA Inc., RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc., and U.S. Bancorp Investments Inc. are joint book-running managers.
Houston-based Enterprise Products Partners LP is a domestic-focused midstream company.
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