Enterprise Products offers guaranteed senior notes in two tranches

Chicago, Jan. 3 – Enterprise Products Operating LLC is offering a two-part offering of fixed-rate senior notes, according to a 424B3 filing with the Securities and Exchange Commission on Tuesday.

The notes will be unconditionally guaranteed by Enterprise Products Partners LP.

The notes may be called at any time at respective make-whole premiums until their par call dates, after which they may be called at par.

J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are working as joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Sidley Austin LLP and Latham & Watkins LLP are working as counsel for the issuer. Vinson & Elkins LLP is counsel to the underwriters.

Proceeds will be used for general company purposes, including for growth capital investments. Enterprise will also use the notes to repay debt (including all or a portion of the $1.25 billion principal amount of 3.35% senior notes HH due 2023 at their maturity in March and amounts outstanding under the company’s commercial paper program.

The midstream energy services provider is based in Houston.

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