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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                              TEPPCO PARTNERS, L.P.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
                                   (UNAUDITED)

NOTE 8.  SUBSEQUENT EVENT

         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.

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