Enterprise Products enters into $1.5 billion revolving credit agreement

By Jennifer Chiou

New York, Oct. 1 – Enterprise Products Partners LP operating subsidiary Enterprise Products Operating LLC entered into on Sept. 30 a $1.5 billion revolving credit agreement with Citibank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The 364-day credit agreement may be increased to up to $1.7 billion.

Borrowings will bear interest at Libor plus 92 bps to 145 bps, depending on the company’s debt ratings.

In addition to interest payments on outstanding borrowings, on a quarterly basis, Enterprise Products will pay a facility fee of 8 bps to 17.5 bps.

The natural gas and crude oil pipeline company is based in Houston.

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