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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 7, 2009
ENTERPRISE PRODUCTS PARTNERS L.P.
(Exact name of registrant as specified in its charter)
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Delaware
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1-14323
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76-0568219 |
(State or other jurisdiction of
incorporation )
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(Commission
File Number)
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(IRS Employer
Identification No.) |
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1100 Louisiana St., 10th Floor, Houston, Texas
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77002 |
(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code: (713) 381-6500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2 below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item 8.01 Other Events.
On October 7, 2009, Enterprise Products Partners L.P. issued a press release announcing
interim results and an amendment to the previously announced exchange offers and consent
solicitations by its principal operating subsidiary, Enterprise Products Operating LLC. As of 5:00
p.m. New York City time, on October 6, 2009, or the Early Consent Date, approximately $1.92 billion
aggregate principal amount of the notes of TEPPCO Partners, L.P. had been validly tendered for
exchange (and not validly withdrawn), such that the requisite consents for each series of TEPPCO
notes have been received and thus the proposed amendments to the TEPPCO indentures governing these
notes will be adopted, assuming all other conditions of the exchange offers and consent
solicitations are satisfied or waived, as applicable. In addition, Enterprise Products Operating
LLC has amended the exchange offers to provide that the exchange price for each TEPPCO note validly
tendered (and not validly withdrawn) after the Early Consent Date and prior to 9:00 a.m., New York
City time, on October 26, 2009, unless extended, will be 100% of its principal amount (rather than
97% as previously offered). The terms and conditions of the exchange offers and consent
solicitations are described in the prospectus dated October 7, 2009, as amended by the press
release, which is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
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Exhibit No. |
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Description |
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99.1
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Press Release dated October 7, 2009. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ENTERPRISE PRODUCTS PARTNERS L.P.
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By: |
Enterprise Products GP, LLC, its general partner |
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Date: October 8, 2009 |
By: |
/s/ Michael J. Knesek
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Michael J. Knesek |
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Senior Vice President, Controller and Principal Accounting Officer of Enterprise
Products GP, LLC |
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EXHIBIT INDEX
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Exhibit No. |
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Description |
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99.1
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Press Release dated October 7, 2009. |
exv99w1
Exhibit 99.1
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Enterprise Products Partners L.P.
P.O. Box 4324
Houston, TX 77210
(713) 381-6500 |
Enterprise Announces Interim Results of Exchange Offers and Consent
Solicitations, and Amends Exchange Price to TEPPCO Note Holders
Tendering Prior to Expiration Date
Houston, Texas (Wednesday, October 7, 2009) Enterprise Products Partners L.P. (NYSE:EPD)
(Enterprise) today announced interim results from the offers to exchange all properly tendered
and accepted notes of the series listed in the table immediately following this paragraph (which
were previously issued by TEPPCO Partners, L.P. (TEPPCO)) and the related solicitations of
consents to the proposed amendments to the indentures governing such notes, all as conducted by
Enterprises principal operating subsidiary, Enterprise Products Operating LLC (EPO). As of 5:00
p.m., New York City time, on October 6, 2009 (the Early Consent Date), and as indicated in the
table below, approximately $1.92 billion aggregate principal amount of TEPPCO notes had been
validly tendered for exchange (and not validly withdrawn), such that the requisite consents for
each series of TEPPCO notes have been received (such consents being irrevocable after the Early
Consent Date by the terms and conditions of the exchange offers and consent solicitations as
described in the corresponding prospectus). In light of having received the requisite consents,
the proposed amendments to the TEPPCO indentures governing the TEPPCO notes will be adopted,
assuming all other conditions of the exchange offers and consent solicitations are satisfied or
waived, as applicable. Also as a result of having received the requisite consents as of the Early
Consent Date, effective as of October 7, 2009, EPO has amended the exchange offers to provide that
the exchange price for each TEPPCO note validly tendered (and not validly withdrawn) after the
Early Consent Date and prior to 9:00 a.m., New York City time, on October 26, 2009, unless extended
(the expiration date), will be 100% of its principal amount (rather than 97% as previously
offered). The following table shows the principal amount of each such series tendered by the Early
Consent Date.
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Outstanding |
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Percentage of |
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Principal Amount |
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Outstanding |
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Aggregate |
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Tendered |
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Principal Amount |
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Principal |
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as of Early |
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Tendered as of Early |
TEPPCO Notes |
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CUSIP No. |
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Amount |
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Consent Date |
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Consent Date |
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7.625% Senior Notes due 2012 |
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872384AA0 |
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$ |
500,000,000 |
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$ |
476,405,000 |
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95.28 |
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6.125% Senior Notes due 2013 |
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872384AB8 |
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$ |
200,000,000 |
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$ |
182,487,000 |
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91.24 |
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5.90% Senior Notes due 2013 |
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872384AD4 |
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$ |
250,000,000 |
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$ |
237,422,000 |
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94.97 |
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6.65% Senior Notes due 2018 |
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872384AE2 |
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$ |
350,000,000 |
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$ |
342,380,000 |
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97.82 |
% |
7.55% Senior Notes due 2038 |
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872384AF9 |
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$ |
400,000,000 |
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$ |
398,514,000 |
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99.63 |
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7.00% Junior Fixed/Floating
Subordinated Notes due 2067 |
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872384AC6 |
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$ |
300,000,000 |
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$ |
285,001,000 |
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95.00 |
% |
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$ |
2,000,000,000 |
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$ |
1,922,209,000 |
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96.11 |
% |
The exchange offers and consent solicitations are made under terms and subject to the
conditions set forth in the prospectus contained in the registration statement on Form S-4 filed by
Enterprise and EPO with the Securities and Exchange Commission (Registration Statement No.
333-162091), as amended on October 7, 2009 (including to reflect the extended offer terms set
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forth above), and a related letter of transmittal and consent that contains a more complete
description of the terms and conditions of the exchange offers and consent solicitations.
A holder who validly tenders its TEPPCO notes for exchange will be deemed to have delivered
its consent to the proposed amendments to the applicable TEPPCO indenture under which those notes
were issued. Tenders of TEPPCO notes may be withdrawn any time prior to the expiration date;
however, consents to the proposed amendments may no longer be revoked after the Early Consent Date.
Tenders of TEPPCO notes may not be validly withdrawn after the expiration date, unless EPO changes
the exchange price for the TEPPCO notes or is required by law to permit withdrawal.
Enterprises obligation to complete the exchange offers and consent solicitations are
conditioned upon, among other things, completion of the proposed merger of TEPPCO with a wholly
owned subsidiary of Enterprise and receipt of valid consents sufficient to affect all of the
proposed amendments to the TEPPCO indentures. The merger and related transactions are not
conditioned upon the commencement or completion of the exchange offers or consent solicitations.
This press release shall not constitute an offer to sell or the solicitation of an offer to
buy the securities described herein, nor shall there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such jurisdiction. The exchange
offers and consent solicitations are being made only by means of a prospectus that is part of a
registration statement, and such exchanges shall not be made until the registration statement has
been declared effective by the SEC.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and is a
leading North American provider of midstream energy services to producers and consumers of natural
gas, NGLs, crude oil and petrochemicals. Enterprise transports natural gas, NGLs, crude oil and
petrochemical products through approximately 36,000 miles of onshore and offshore pipelines.
Services include natural gas transportation, gathering, processing, and storage; NGL fractionation
(or separation), transportation, storage and import and export terminaling; crude oil
transportation and offshore production platform; and petrochemical transportation and storage
services. For more information, visit Enterprise on the web at www.epplp.com. Enterprise
Products Partners L.P. is managed by its general partner, Enterprise Products GP, LLC, which is
wholly owned by Enterprise GP Holdings L.P. (NYSE: EPE). For more information on Enterprise GP
Holdings L.P., visit its website at www.enterprisegp.com.
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Contacts: |
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Randy Burkhalter, Investor Relations (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations (713) 381-3635 |
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