Exhibit 99.2
ENTERPRISE PRICES $3 BILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR NOTES
Houston, Texas (October 3, 2018) – Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”) today announced that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), has priced a public offering of $3.00 billion aggregate principal amount of notes comprised of (i) $750 million principal amount of senior notes due February 1, 2022 (“Senior Notes VV”), (ii) $1.00 billion principal amount of senior notes due October 16, 2028 (“Senior Notes WW”), and (iii) $1.25 billion principal amount of senior notes due February 1, 2049 (“Senior Notes XX”).
We expect to use the net proceeds of this offering for (i) the repayment of debt, including the repayment of amounts outstanding under our commercial paper program, and (ii) for general company purposes, including for organic growth capital expenditures.
Senior Notes VV will be issued at 99.985% of their principal amount and will have a fixed-rate interest coupon of 3.50%. Senior Notes WW will be issued at 99.764% of their principal amount and will have a fixed-rate interest coupon of 4.15%. Senior Notes XX will be issued at 99.390% of their principal amount and will have a fixed-rate interest coupon of 4.80%. Enterprise Products Partners L.P. will guarantee the senior notes through an unconditional guarantee on an unsecured and unsubordinated basis. Settlement of the offering is expected to occur on October 11, 2018.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, and SMBC Nikko Securities America, Inc. acted as joint book-running managers for the offering. An investor may obtain a free copy of the prospectus as supplemented for the offering by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, EPO or any underwriter or dealer participating in this offering will arrange to send a prospectus as supplemented to an investor if requested by contacting Citigroup Global Markets Inc. at 1 (800) 831-9146, Credit Suisse Securities (USA) LLC at 1 (800) 221-1037, RBC Capital Markets, LLC at 1 (866) 375-6829 or SMBC Nikko Securities America, Inc. at 1 (888) 868-6856.
