Enterprise Products to conduct two-tranche sale of fixed-to-floaters

By Devika Patel

Knoxville, Tenn., Aug. 7 – Enterprise Products Operating LLC plans to offer fixed-to-floating rate junior subordinated notes in two tranches, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Enterprise Products Partners LP.

The notes are initially non-callable and then callable at par.

Citigroup Global Markets Inc., Barclays, Mizuho Securities USA Inc. and MUFG are the bookrunners.

Proceeds will be used for debt repayment and general company purposes.

The midstream energy services provider is based in Houston.

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