Enterprise Products Operating (EPO) has raised $1.25 billion in a two-part sale of senior unsecured notes. The bonds worth $600 million, which carry a coupon rate of 4.05%, will mature on Feb. 15, 2022, and the $650 million notes, which carry a coupon rate of 5.7%, will be due on Feb. 15, 2042. The net proceeds from the offering, which will be guaranteed by Enterprise Products Partners, will be used to temporarily reduce borrowings under EPO’s multi-year revolving credit facility and for general company purposes. The joint book-runners for the issue were Merrill Lynch, Pierce, Fenner & Smith, Citigroup Global Markets, Mizuho Securities USA, SunTrust Robinson Humphrey and Wells Fargo.
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