Summary
Enterprise Products Partners L.P. (EPD) announced on August 7, 2020, the completion of a public offering totaling $1.25 billion in senior notes. This offering consisted of $250 million of 2.800% senior notes due 2030 (a re-opening of an existing series) and $1.0 billion of 3.200% senior notes due 2052. These notes are guaranteed by the Partnership on an unsecured and unsubordinated basis. The proceeds from this offering are intended to fund general corporate purposes. The issuance of these notes occurred under existing indentures, with the new 2052 notes being governed by a newly executed Thirty-Fifth Supplemental Indenture. This financing activity provides EPD with long-term capital, extending its debt maturity profile and potentially providing flexibility for future investments or operational needs.
Key Highlights
- 1EPD completed a $1.25 billion public offering of senior notes.
- 2The offering included $250 million of 2.800% senior notes due 2030 and $1.0 billion of 3.200% senior notes due 2052.
- 3The notes are guaranteed by Enterprise Products Partners L.P. on an unsecured and unsubordinated basis.
- 4The 2030 notes represent a re-opening of an existing series, consolidating with the original issuance.
- 5The 2052 notes have a long maturity, extending to February 15, 2052.
- 6The offering was registered under the Securities Act of 1933 via a Form S-3 registration statement.
- 7The issuance is intended for general corporate purposes.