TE Products Pipeline Company, LLC Exercises Its Call Option to Redeem Its 7.51% Senior Notes, Due 2028
Posted on: Wednesday, 26 December 2007, 18:00 CST
TEPPCO Partners, L.P. (NYSE:TPP) and one of its operating subsidiaries, TE Products Pipeline Company, LLC ("TE Products"), today announced that TE Products will exercise its right to redeem the $175 million principal balance of its 7.51% senior notes that are due January 2028. This redemption represents the entire outstanding principal balance of this series of notes and will occur on January 28, 2008. Under the terms of these notes, the call premium to be paid is 103.755% of the principal amount redeemed, plus any accrued interest due on the notes at the date of redemption.
TEPPCO Partners, L.P. is a publicly traded partnership with an enterprise value of approximately $5 billion, which conducts business through various subsidiary operating companies, including TE Products. TEPPCO owns and operates one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States; owns and operates petrochemical and natural gas liquid pipelines; is engaged in transportation, storage, gathering and marketing of crude oil; owns and operates natural gas gathering systems; and has ownership interests in Jonah Gas Gathering Company, Seaway Crude Pipeline Company, Centennial Pipeline LLC and an undivided ownership interest in the Basin Pipeline. Texas Eastern Products Pipeline Company, LLC, the general partner of TEPPCO Partners, L.P., is owned by Enterprise GP Holdings L.P. (NYSE:EPE). Additional information about Enterprise GP Holdings is available at www.enterprisegp.com.
Source: Business Wire
Related Articles
- Fortis, Foothills and High Sierra Successfully Close $130 Million Syndication and Long-Term, Fixed Price Gas Hedge for Monroe Gas Storage Company, LLC
- Sunoco Logistics Partners L.P. Acquires Texas Refined Products Pipeline and Terminals From Exxon Mobil
- Targa Resources, Inc. Announces Definitive Agreement to Assume Warburg Pincus' Interest in Floridian Natural Gas Storage Company, LLC
- Tennessee Gas Pipeline Proposes $2.2 Billion Natural Gas Pipeline to Link Growing Rocky Mountains Production With Northeastern Markets, an Industrial Info News Alert
- Aspen Pipeline Announces Definitive Agreements for Yates Gas Production, Market and Development of West Texas Pipeline for High Nitrogen Gas Project
- Research and Markets: Lexicon Genetics Incorporated - Product Pipeline Report Provides Product Details With Description, Therapeutic Indication, Drug Class, Mechanism of Action, Current Trial, Trial Details and Partnering Details
- Magellan Midstream Partners Expands Petroleum Products Pipeline With Addition of System Terminals
- Products Pipeline Boosts Throughput Switching From Gel To Suspension Flow Improver
- TKT Provides Update on Product Pipeline at JPMorgan Healthcare Conference
 |
 |
User Comments (0)
RSS Feeds