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Enterprise Products Partners L.P. (NYSE:EPD) today announced that the underwriters of its common unit offering, which priced this morning, have exercised their full over-allotment option to purchase 1,200,000 additional common units. These units represent limited partner interests in Enterprise and were priced to the public at $53.07 per common unit.
Net proceeds from the sale of the additional 1,200,000 common units will approximate $62 million after deducting underwriting discounts, commissions and offering expenses. The total net proceeds from the offering, including the exercise of the over-allotment option, will approximate $473 million. Enterprise intends to use the net proceeds to temporarily reduce borrowings under its multi-year revolving credit facility and for general partnership purposes.
Wells Fargo Securities, Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan, Morgan Stanley and UBS Investment Bank are joint book-running managers for the offering. An investor may obtain a free copy of the prospectus as supplemented by visiting EDGAR on the SEC website at
www.sec.gov. A copy of the preliminary prospectus supplement and related base prospectus may also be obtained from the underwriters as follows:
Wells Fargo SecuritiesAttention: Equity Syndicate Dept.375 Park Ave.New York, NY, 10152Toll-free number: (800) 326-5897Email:
Barclaysc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Toll-free number: (888) 603-5847
BofA Merrill Lynch222 Broadway, 7
th floor,New York, NY 10038Attn: Prospectus DepartmentEmail:
CitigroupAttention: Prospectus Dept.Brooklyn Army Terminal140 58
th Street, 8
th floor,Brooklyn, NY, 11220Toll-free number: (800) 831-9146
J.P. Morganc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, New York 11717Toll-free number: (866) 803-9204
Morgan StanleyAttn: Prospectus Dept.180 Varick Street, 2
nd floor,New York, NY, 10014Toll-free number: (866) 718-1649
UBS Investment BankAttn: Prospectus Dept.299 Park AvenueNew York, NY 10171Toll-Free number: (888) 827-7275
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the common units described herein, nor shall there be any sale of these common units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement, which are part of an effective registration statement.