Enterprise Products Partners L.P. Announces Sale of Additional Common Units
HOUSTON-(Business Wire)-September 28, 2009 - Enterprise Products Partners L.P. (NYSE:EPD) today announced that the underwriters of its recent common unit offering have exercised their full over-allotment option to purchase an additional 1,087,500 common units as part of EPD’s common unit offering that was priced on September 22, 2009 at a public offering price of $28.00 per common unit.
The net proceeds from the sale of the 1,087,500 additional common units will be approximately $30 million (including an additional net capital contribution of $0.6 million from its general partner to maintain a 2 percent general partner interest) after deducting underwriting discounts, commissions and offering expenses. Enterprise intends to use the net proceeds to temporarily reduce borrowings outstanding under its multi-year revolving credit facility and for general partnership purposes. Enterprise expects to use some of the increased availability under the facility to finance capital expenditures and other growth projects.
Morgan Stanley, Barclays Capital, Citi and Wells Fargo Securities are joint book-running managers for the offering, and BofA Merrill Lynch, JPMorgan, Raymond James and SMH Capital are co-managers. An investor may obtain a free copy of the prospectus as supplemented by visiting EDGAR on the SEC website at www.sec.gov. A copy of the final prospectus supplement and related base prospectus may also be obtained from the joint book-running managers as follows:
| Morgan Stanley & Co. Incorporated |
| Attn: Prospectus Dept. |
| 180 Varick Street, 2nd floor, |
| New York, NY, 10014 |
| Toll-free number: (866) 718-1649 |
| Barclays Capital Inc. |
| c/o Broadridge Integrated Distribution Services |
| 1155 Long Island Avenue |
| Edgewood, NY 11717 |
| Toll-free number: 1-888-603-5847 |
| Citigroup Global Markets Inc. |
| Brooklyn Army Terminal |
| Attention: Prospectus Dept. |
| 140 58th Street, 8th floor, |
| Brooklyn, NY, 11220 |
| Toll-free number: (800) 831-9146 |
| Wells Fargo Securities, LLC |
| Attention: Equity Syndicate Dept. |
| 375 Park Ave. |
| New York, NY, 10152 |
| Toll-free number: (800) 326-5897 |
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units described herein, nor shall there be any sale of these units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement, which are part of an effective registration statement.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and is a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil and petrochemicals. Enterprise transports natural gas, NGLs, crude oil and petrochemical products through approximately 36,000 miles of onshore and offshore pipelines. Services include natural gas transportation, gathering, processing, and storage; NGL fractionation (or separation), transportation, storage and import and export terminaling; crude oil transportation and offshore production platform; and petrochemical transportation and storage services. For more information, visit Enterprise on the web at www.epplp.com. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP, LLC, which is wholly owned by Enterprise GP Holdings L.P. (NYSE:EPE). For more information on Enterprise GP Holdings L.P., visit its website at www.enterprisegp.com.
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