Summary
Enterprise Products Partners L.P. (EPD) announced the successful completion of a public offering of $1.0 billion in aggregate principal amount of Enterprise Products Operating LLC's (EPO) 3.300% senior notes due 2053. These notes are guaranteed by the Partnership on an unsecured and unsubordinated basis. This offering expands the company's long-term debt maturity profile with notes that mature in February 2053, bearing a fixed interest rate of 3.300% per annum. The issuance of these notes, which were registered under the Securities Act of 1933, allows EPD to access capital for its ongoing operations and strategic initiatives. The structure of the offering, including the redemption provisions and maturity date, provides a predictable cost of capital for the partnership over the next three decades. Investors can note the inclusion of a "make-whole" premium redemption option prior to August 15, 2052, and a par redemption thereafter, indicating flexibility for the issuer.
Key Highlights
- 1EPD completed a $1.0 billion public offering of 3.300% senior notes due 2053 issued by Enterprise Products Operating LLC.
- 2The new notes are guaranteed by Enterprise Products Partners L.P. on an unsecured and unsubordinated basis.
- 3The offering increases EPD's long-term debt maturity profile, with notes maturing in February 2053.
- 4The notes bear a fixed interest rate of 3.300% per annum, payable semi-annually.
- 5The issuance was made under a registration statement previously filed with the SEC.
- 6EPO has the option to redeem the notes prior to maturity, with a make-whole premium before August 15, 2052, and at par thereafter.