Exhibit 99.2
ENTERPRISE PRICES $1.75 BILLION AGGREGATE PRINCIPAL
AMOUNT OF SENIOR NOTES
Houston, Texas (Tuesday, January 3, 2023) – 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 $1.75 billion aggregate principal amount of notes comprised of (i) $750 million principal amount of senior notes due January 10, 2026 (“Senior Notes FFF”), and (ii) $1.0 billion principal amount of senior notes due January 31, 2033 (“Senior Notes GGG”).
Enterprise expects to use the net proceeds of this offering for (i) general company purposes, including for growth capital investments, and (ii) the repayment of debt (including the repayment of all or a portion of its $1.25 billion principal amount of 3.35% Senior Notes HH due 2023 at their maturity in March 2023 and amounts outstanding under its commercial paper program).
Senior Notes FFF will be issued at 99.893% of their principal amount and will have a fixed-rate interest coupon of 5.05%. Senior Notes GGG will be issued at 99.803% of their principal amount and will have a fixed-rate interest coupon of 5.35%. 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 January 10, 2023.
J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC 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 J.P. Morgan Securities LLC at (212) 834-4533, BofA Securities, Inc. at (800) 294-1322, Morgan Stanley & Co. LLC at (866) 718-1649, or RBC Capital Markets, LLC at (866) 375-6829.
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