Plains All American Pipeline, L.P. (NYSE: PAA )
today announced that it has commenced a public offering of senior notes
(the "Notes"). The Partnership intends to use the net proceeds from this
offering to repay outstanding borrowings under its commercial paper
program and for general partnership purposes.
Enterprise Products Partners L.P. (NYSE: EPD) today announced that its
operating subsidiary, Enterprise Products Operating LLC (“EPO”), has
priced a public offering of $2.75 billion of senior unsecured notes
comprised of $800 million due on October 15, 2019 (“Senior Notes LL”),
$1.15 billion due on February 15, 2025 (“Senior Notes MM”), $400 million
due on March 15, 2044 (reopened “Senior Notes II”), and $400 million due
on October 15, 2054 (“Senior Notes NN”). We expect to use the net
proceeds of this offering for the repayment of debt, including (i) the
repayment of amounts outstanding under our 364-day credit agreement or
commercial paper program and (ii) the repayment of amounts outstanding
on the maturity of EPO’s $650.0 million principal amount of Senior Notes
G due October 15, 2014, and for general company purposes.
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