Enterprise Products Partners L.P. Announces Public Unit Offering
Ticker Symbol: U:EPD
HOUSTON -- (Business Wire) --
Enterprise Products Partners L.P. (NYSE:EPD) today announced the commencement of a public offering of 8,000,000 common units representing limited partner interests in the partnership. Enterprise also intends to grant 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, 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.