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Enterprise Products Partners L.P. Message Board

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  • arbtrdr arbtrdr Apr 13, 2010 12:04 AM Flag

    Offering announced

    The "pockets of the GP" is not a general partnership purpose. General partnership purposes could be pipeline maintanance, repairing equipment or any of the thousands of things EPD spends $$ on every day.

    The units are down about 2.5% because the public pricing of the units will be under the market by about that amount. To see what happens with an offering take a look at MWE and its recent offering.

    This should bring EPD about $450M. With their retained cash for Q1 and Q2 that should put them needing about $450M in debt to complete the $1.2B purchase. This would mean about an $18M saving in interest on the $300M in retained earnings. Also a tiny step closer to a higher bond rating.

    ARB

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