Enterprise Products pushes $1.5 billion revolver maturity by two years

By Wendy Van Sickle

Columbus, Ohio, Sept. 14 – Enterprise Products Partners, LP operating subsidiary Enterprise Products Operating LLC entered into a second amendment to the 364-day credit agreement it originally entered in September 2014 to again extend the maturity date of the agreement, this time by almost two years, according to an 8-K filing with the Securities and Exchange Commission.

Specifically, the maturity of the revolving credit agreement was extended to the date that falls one year and 364 days from the day the amendment was entered, which occurred on Wednesday, according to the filing.

The partnership may borrow up to $1.5 billion under the revolver, which also has a $200 million accordion.

The joint lead arrangers and joint bookrunners are Citigroup Global Markets Inc., Wells Fargo Securities, LLC, DNB Markets, Inc., J.P. Morgan Securities LLC, Mizuho Bank, Ltd., MUFG, RBC Capital Markets, Bank of Nova Scotia, SunTrust Robinson Humphrey, Inc. and UBS Securities LLC. The administrative agent is Citibank, NA. The co-syndication agents are Wells Fargo Bank, NA, DNB Bank ASA, New York Branch, JPMorgan Chase Bank, NA, Mizuho Bank and MUFG. The co-documentation agents are Royal Bank of Canada, Bank of Nova Scotia, SunTrust Bank and UBS Securities LLC.

Enterprise Products Partners is a Houston-based publicly traded partnership and a provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.

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