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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 $62.05 per common unit.
Net proceeds from the sale of the additional 1,200,000 common units will approximate $72 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 $553 million. Enterprise intends to use the net proceeds from this offering, including the exercise of the full over-allotment option by the underwriters, for general partnership purposes, which may include repayment of debt, including the repayment of amounts outstanding under its multi-year revolving credit facility, 364-day credit agreement or commercial paper program, working capital, capital expenditures (including a portion of growth capital expenditures for the remainder of 2013 and 2014) and acquisitions.
Barclays, BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities, Citigroup, Credit Suisse, Deutsche Bank Securities, Raymond James and RBC Capital Markets 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:
Barclaysc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Toll-free number: (888) 603-5847
BofA Merrill LynchAttn: Prospectus Department222 BroadwayNew York, NY 10038Email:
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 floorNew York, NY 10014Toll-free number: (866) 718-1649
UBS Investment BankAttn: Prospectus Dept.299 Park AvenueNew York, NY 10171Toll-Free number: (888) 827-7275