8-KMaterial AgreementsOther EventsExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Material Agreement (Oct 5, 2009)

Filed October 5, 2009For Securities:EPDEPDU

Summary

Enterprise Products Partners L.P. (EPD) announced the successful completion of a significant public offering of senior notes on October 5, 2009. The company issued $500 million in 5.25% Senior Notes due 2020 and $600 million in 6.125% Senior Notes due 2039, totaling $1.1 billion in aggregate principal amount. These notes are guaranteed on an unsecured and unsubordinated basis by the Partnership, indicating a commitment to meet its debt obligations.

Key Highlights

  • 1Completion of a $1.1 billion public offering of senior notes.
  • 2Issuance of $500 million in 5.25% Senior Notes due 2020.
  • 3Issuance of $600 million in 6.125% Senior Notes due 2039.
  • 4Notes are guaranteed by Enterprise Products Partners L.P. on an unsecured and unsubordinated basis.
  • 5The offering was completed on October 5, 2009.
  • 6Interest payments are scheduled semi-annually, commencing in January 2010 for the 2020 notes and April 2010 for the 2039 notes.
  • 7The company filed legal opinions related to the offering's registration statement.

Frequently Asked Questions

The primary purpose of this 8-K filing was to announce the entry into a material definitive agreement, specifically the completion of a public offering of $1.1 billion in senior notes by Enterprise Products Operating LLC, with guarantees from Enterprise Products Partners L.P.

The notes consist of $500 million of 5.25% Senior Notes due 2020 and $600 million of 6.125% Senior Notes due 2039. Interest is payable semi-annually, and the notes are redeemable at the company's discretion.

The guarantee from Enterprise Products Partners L.P. means the partnership is directly and unconditionally responsible for the debt obligations of Enterprise Products Operating LLC. This provides an additional layer of security for the noteholders.

This filing primarily concerns the issuance of new debt. While it increases the company's overall leverage, the specific impact on the existing debt structure would require a deeper analysis of the company's balance sheet and debt covenants, which are not detailed in this specific 8-K.