Enterprise Products Partners L.P.

SEC Filings

424B5
ENTERPRISE PRODUCTS PARTNERS L P filed this Form 424B5 on 02/02/2018
Entire Document
 


Table of Contents

The Offering

 

Issuer

Enterprise Products Operating LLC.

 

Guarantee

The notes will be fully and unconditionally guaranteed by the Parent Guarantor on an unsecured and unsubordinated basis. Initially, the notes will not be guaranteed by any of our subsidiaries. In the future, however, if any of our subsidiaries become guarantors or co-obligors of our funded debt (as defined in the Indenture), then these subsidiaries will jointly and severally, fully and unconditionally, guarantee our payment obligations under the notes. Please read “Description of the Notes—Parent Guarantee” and “—Potential Guarantee of Notes by Subsidiaries.”

 

Securities Offered

$750,000,000 aggregate principal amount of 2.800% senior notes due 2021.

 

  $1,250,000,000 aggregate principal amount of 4.250% senior notes due 2048.

 

Interest

The 2021 notes will bear interest at 2.800% per annum. The 2048 notes will bear interest at 4.250% per annum. All interest on the 2021 notes and the 2048 notes will accrue from and including February 15, 2018.

 

Interest Payment Dates

Interest on the 2021 notes will be paid in cash semi-annually in arrears on February 15 and August 15 of each year, beginning on August 15, 2018.

 

  Interest on the 2048 notes will be paid in cash semi-annually in arrears on February 15 and August 15 of each year, beginning on August 15, 2018.

 

Maturity

2021 notes—February 15, 2021.

 

  2048 notes—February 15, 2048.

 

Use of Proceeds

We will receive aggregate net proceeds of approximately $1.981 billion from the sale of the notes to the underwriters after deducting the underwriting discount and other estimated offering expenses payable by us. We expect to use the net proceeds of this offering for the repayment of debt, including the repayment of amounts outstanding under our commercial paper program and the repurchase or redemption of all or a portion of the Junior Subordinated Notes B, and for general company purposes. Affiliates of certain of the underwriters may hold our commercial paper notes or our Junior Subordinated Notes B to be repaid or redeemed with proceeds from this offering and, accordingly, may receive a substantial portion of the proceeds of this offering. Please read “Use of Proceeds” and “Underwriting” in this prospectus supplement.

 

Ranking

The notes will be our unsecured and unsubordinated obligations and will rank equally with all of our other existing and future unsubordinated indebtedness. Please read “Description of the Notes—Ranking.”



 

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