By Andrea Heisinger
New York, Dec. 17 - Enbridge Energy Partners LP priced $500 million 9.875% 10-year senior unsecured notes Wednesday, according to a press release from the company.
The notes (Baa2/BBB/BBB) priced at 99.94 to yield 9.875%.
The notes are callable on March 1, 2012 at par plus interest.
Bookrunners were Deutsche Bank Securities Inc., J.P. Morgan Securities Inc. and RBS Greenwich Capital.
Proceeds will be used to repay a portion of outstanding credit facility borrowings used to finance a capital expansion project and to repay outstanding senior notes due 2009.
The crude oil and petroleum company is based in Houston.
| Issuer: | Enbridge Energy Partners LP
|
| Issue: | Senior unsecured notes
|
| Amount: | $500 million
|
| Maturity: | March 1, 2019
|
| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., RBS Greenwich Capital
|
| Coupon: | 9.875%
|
| Price: | 99.94
|
| Yield: | 9.875%
|
| Call option: | On March 1, 2012 at par plus interest
|
| Trade date: | Dec. 17
|
| Settlement date: | Dec. 22
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
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