Enterprise Products Partners L.P.

SEC Filings

10-Q
TEPPCO PARTNERS LP filed this Form 10-Q on 11/14/1997
Entire Document
 
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ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 
         RESULTS OF OPERATONS

OTHER MATTERS - (CONTINUED)

terminal. The Partnership is currently negotiating with IDEM the clean-up levels
to be attained at the Seymour terminal. In the opinion of the general partner,
the completion of the remediation program to be proposed by the Partnership, if
such program is approved by IDEM, will not have a material adverse impact on the
Partnership.

         During June 1997, the Partnership filed rate increases on selective
refined products tariffs and LPGs tariffs, averaging 1.7%. These rate increases
became effective July 1, 1997 without suspension or refund obligation.

         On October 22, 1997, TE Products Pipeline Company, Limited Partnership
filed a Registration Statement on Form S-3 under the Securities Act of 1933 for
the registration of $150 million principal amount of Senior Notes due 2007 and
$240 million principal amount of Senior Notes due 2027 (collectively the
"Notes"). The net proceeds from the sale of the Notes, estimated to be
approximately $387 million, will be used to repay the First Mortgage Notes of
approximately $327 million, together with a redemption premium thereon currently
estimated at approximately $60 million. The precise amount of the redemption
premium will depend upon U. S. Treasury interest rates in effect on the day
prior to the redemption of the First Mortgage Notes. The closing of the Notes
and the redemption of the First Mortgage Notes are expected to occur
simultaneously.

         The matters discussed herein include forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 based on current management expectations that
involve risk and uncertainties which could cause actual results to differ
materially from those anticipated. For additional discussion of such risks and
uncertainties, see the Partnership's 1996 Annual Report on Form 10-K.


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