WASHINGTON (dpa-AFX) - Enterprise Products Partners L.P. (EPD) said Monday that its operating subsidiary, Enterprise Products Operating LLC, has priced a public offering of $2.25 billion of senior unsecured notes comprised of $1.25 billion due on March 15, 2023 and $1 billion due on March 15, 2044.
Net proceeds from the offering are expected to be used to repay debt, including the refinancing of $550 million principal amount of senior notes that matured in February 2013 and $650 million principal amount of senior notes scheduled to mature in April 2013, and for general company purposes.
The Senior Notes due on March 15, 202 will be issued at 99.908% of their principal amount and will have a fixed-rate interest coupon of 3.35%t, and the Senior Notes due on March 15, 204 will be issued at 99.619% of their principal amount and will have a fixed-rate interest coupon of 4.85%.
The expected settlement date for the offering is March 18.
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