Enterprise Products to pay down revolver with senior note offering

By Tali David

Minneapolis, Aug. 6 - Enterprise Products Operating LLC plans to use the proceeds of its senior note offering to temporarily reduce borrowings under its multi-year revolving credit facility and for general company purposes, according to a 424B3 filed with the Securities and Exchange Commission.

As of Aug. 3, Enterprise had $1.62 billion of borrowings outstanding under its multi-year revolving credit facility that bears interest of a variable rate, which on a weighted-average basis was about 1.55% per year.

Enterprise Products Operating is a Houston-based company that provides a range of services to producers and consumers of natural gas and natural gas liquids in North America.

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