Enterprise Increases and Extends Revolving Credit Facility
Enterprise Products Partners L.P. (NYSE:EPD) today announced that its operating partnership, Enterprise Products Operating LLC, completed an amendment to its existing multi-year revolving credit facility to, among other terms, increase total bank commitments from $1.25 billion to $1.75 billion and extend the maturity date of the credit facility to November 19, 2012. In addition, the amendment provides the partnership with the option to further increase commitments under the credit facility up to a maximum of $2.25 billion upon satisfaction of certain conditions.
The Administrative Agent for the credit facility is Wachovia Bank, National Association. The Co-Syndication Agents are Citibank, N.A. and JPMorgan Chase Bank, N.A. and the Co-Documentation Agents are Mizuho Corporate Bank, Ltd., SunTrust Bank and The Bank of Nova Scotia. The joint lead arrangers are Wachovia Capital Markets, LLC; Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships with an enterprise value of approximately $21 billion, and is a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil and petrochemicals. Enterprise transports natural gas, NGLs, crude oil and petrochemical products through more than 35,000 miles of onshore and offshore pipelines. Services include natural gas gathering, processing, transportation and storage; NGL fractionation (or separation), transportation, storage and import and export terminaling; crude oil transportation; offshore production platform services; and petrochemical pipeline and services. For more information, visit Enterprise on the web at www.epplp.com. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP, LLC, which is wholly-owned by Enterprise GP Holdings L.P. (NYSE:EPE), which has an enterprise value of approximately $5 billion. For more information on Enterprise GP Holdings L.P., visit its website at www.enterprisegp.com.