Enterprise Products Partners Announces 8M Public Unit Offering
Enterprise Products Partners (NYSE: EPD) today announced the commencement of a public offering of 8,000,000 common units representing limited partner interests in the partnership. Enterprise also intends to grant the underwriters a 30-day option to purchase up to 1,200,000 additional common units to cover over-allotments, if any. Enterprise will use the net proceeds from this 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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.