- Enterprise Products Operating LLC prices $2.0 billion in senior notes.
- The offering includes notes due in 2028, 2031, and 2036.
- Proceeds to be used for general needs, acquisitions, and debt repayment.
Enterprise Products Partners L.P. (EPD, Financial) has announced that its subsidiary, Enterprise Products Operating LLC, has successfully priced a public offering of $2.0 billion in aggregate principal amount of senior notes. The offering is structured into three tranches: $500 million due June 20, 2028, $750 million due January 15, 2031, and $750 million due January 15, 2036.
The senior notes will be issued at slightly below their principal amounts, with interest coupons set at 4.30%, 4.60%, and 5.20% for the 2028, 2031, and 2036 notes, respectively. The issuance is supported by an unconditional guarantee from Enterprise Products Partners L.P. on an unsecured and unsubordinated basis, ensuring investor confidence in the offering.
Proceeds from this fundraising initiative are earmarked for general corporate purposes, which may include potential growth capital investments and acquisitions, alongside the repayment of existing debt. Specifically, the proceeds may address outstanding debt under Enterprise Products Operating LLC's commercial paper program.
The offering's settlement is anticipated on June 20, 2025, subject to customary closing conditions. Citigroup Global Markets Inc., BBVA Securities Inc., Deutsche Bank Securities Inc., Scotia Capital (USA) Inc., and TD Securities (USA) LLC have collaborated as joint book-running managers for this transaction.
Enterprise Products Partners L.P., headquartered in Houston, is a leading provider of midstream energy services across North America, managing an expansive network that includes over 50,000 miles of pipelines, substantial storage capacities, and a robust marine transportation business. The partnership's operations span natural gas, NGLs, crude oil, and various petrochemical segments, marking its prominent role within the energy sector.
