8-KMaterial AgreementsExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Material Agreement (Aug 23, 2010)

Filed August 23, 2010For Securities:EPDEPDU

Summary

Enterprise Products Partners L.P. (EPD) filed an 8-K on August 23, 2010, primarily to report an amendment to a material definitive agreement. Specifically, Duncan Energy Partners L.P. (DEP), a partially owned subsidiary of EPD, amended its loan agreement with EPD's wholly-owned subsidiary, Enterprise Products Operating LLC (EPO). The amendment's core purpose was to extend the maturity date of a $200 million revolving credit facility from September 28, 2010, to December 31, 2010. This extension provides DEP with additional time to manage its financial obligations. As of August 19, 2010, DEP had $75 million in outstanding borrowings under this facility. Investors should note that this is a routine amendment that impacts the short-term liquidity of a subsidiary and does not appear to involve any new material financial commitments or significant changes to the underlying loan terms beyond the maturity date. The primary impact for EPD investors is the continued operational flexibility for its subsidiary.

Key Highlights

  • 1Amendment to the DEP-EPO Loan Agreement executed on August 20, 2010.
  • 2Maturity date of the $200 million loan facility extended from September 28, 2010, to December 31, 2010.
  • 3The borrower is Duncan Energy Partners L.P. (DEP), and the lender is Enterprise Products Operating LLC (EPO), a wholly-owned subsidiary of EPD.
  • 4As of August 19, 2010, $75 million was outstanding under the loan agreement.
  • 5All other terms and conditions of the original loan agreement remain unchanged.
  • 6The filing confirms a routine extension of credit for a subsidiary, providing additional liquidity runway.

Frequently Asked Questions

The main purpose of this 8-K filing is to report a material amendment to a loan agreement between Duncan Energy Partners L.P. (DEP) and Enterprise Products Operating LLC (EPO). The amendment extends the maturity date of a credit facility.

The primary change is the extension of the loan's maturity date from September 28, 2010, to December 31, 2010. All other terms and conditions of the original loan agreement remain unchanged.

As of August 19, 2010, there were $75 million in borrowings outstanding under the loan agreement.

No, this amendment does not represent a new financial commitment. It is an extension of an existing $200 million credit facility between DEP and EPD's subsidiary, EPO. The principal amount and other terms are unchanged, only the repayment timeline is adjusted.