By Laura Lutz
Des Moines, July 16 - Enterprise GP Holdings LP plans to conduct a private placement of units for $749,999,695.
The company intends to sell 20,134,220 units representing limited partner interests for $37.25 per unit.
The investors included affiliates of Swank Capital, LLC; GPS Partners LLC; funds managed by Zimmer Lucas Capital, LLC and Kayne Anderson Capital Advisors, LP.
Lehman Brothers Inc. and Citigroup Global Markets Inc. were the lead agents.
Proceeds will be used to repay debt. The debt was incurred to fund the acquisition of common units of Energy Transfer Equity, LP and membership interests of its general partner, LE GP, LLC.
Houston-based Enterprise GP owns general partner and limited partner interests in Enterprise Products Partners LP, an energy company.
| Issuer: | Enterprise GP Holdings LP
|
| Issue: | Units representing limited partner interests
|
| Amount: | $749,999,695
|
| Units: | 20,134,220
|
| Price: | $37.25
|
| Warrants: | No
|
| Agents: | Lehman Brothers Inc., Citigroup Global Markets Inc.
|
| Investors: | Affiliates of Swank Capital, LLC; GPS Partners LLC; funds managed by Zimmer Lucas Capital, LLC; Kayne Anderson Capital Advisors, LP
|
| Pricing date: | July 16
|
| Stock symbol: | NYSE: EPE
|
| Stock price: | $40.35 at close July 13
|
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