By Devika Patel
Knoxville, Tenn., Sept. 4 - Enterprise Products Partners LP arranged a $150 million private placement of common units with EPCO Holdings, Inc. on Sept. 4, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company will sell 5,940,594 common units at $25.25 per unit to EPCO Holdings.
Settlement is expected Sept. 8.
Proceeds will be used to reduce debt and for general partnership purposes.
Enterprise Products Partners is a Houston-based provider of processing, transportation and storage services to the natural gas, natural gas liquids and crude oil industries. It conducts substantially all of its business through its wholly owned subsidiary, Enterprise Products Operating.
| Issuer: | Enterprise Products Partners LP
|
| Issue: | Common units
|
| Amount: | $150 million
|
| Units: | 5,940,594
|
| Price: | $25.25
|
| Warrants: | No
|
| Investor: | EPCO Holdings, Inc.
|
| Pricing date: | Sept. 4
|
| Settlement date: | Sept. 8
|
| Stock symbol: | NYSE: EPD
|
| Stock price: | $26.75 at close Sept. 4
|
| Market capitalization: | $12.2 billion
|
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