Enterprise Products Partners Prices 8M Share Public Unit Offering at $53.07 per Share
Enterprise Products Partners (NYSE: EPD) today announced that it has priced a public offering of 8,000,000 common units representing limited partner interests in the partnership at a public offering price of $53.07 per common unit. Enterprise has also granted 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 of approximately $412 million 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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.