WASHINGTON (dpa-AFX) - Enterprise Products Partners L.P. (EPD) said Monday that it has commenced a public offering of 8 million common units representing limited partner interests in the partnership.
The Partnership also plans to grant the underwriters a 30-day option to purchase up to 1.2 million additional common units to cover over-allotments, if any.
Enterprise said it will use the net proceeds from the offering, including any exercise of the over-allotment option by the underwriters, to temporarily reduce borrowings under its multi-year revolving credit facility and for general partnership purposes.
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