Enterprise Products preps two tranches of guaranteed senior notes

Chicago, Jan. 2 – Enterprise Products Operating LLC is planning to sell two fixed-rate senior notes guaranteed by Enterprise Products Partners LP, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will first be callable with a make-whole premium and then each note will be callable at par after a certain date.

MUFG Securities Americas Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., PNC Capital Markets LLC and TD Securities (USA) LLC have been hired as bookrunners.

U.S. Bank Trust Co., NA will be the trustee.

Sidley Austin LLP and Latham & Watkins LLP will advise the issuer. Vinson & Elkins LLP is advising the underwriters.

Proceeds will be used for general company purposes, including for growth capital investments and the repayment of debt. Debt repayment will include all or a portion of the $850 million 3.9% senior notes due in February and amounts outstanding under a commercial paper program.

The midstream energy services provider is based in Houston.

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