By October 7, 2015 Read More →

Enbridge Energy Partners closes $1.6 billion financing

Financing announcement comes as Enbridge says it is considering a big expansion into the Gulf Coast

enbridge

Enbridge Energy Partners

HOUSTON, TX – Enbridge Energy Partners, L.P. announced Tuesday it has closed a $1.6 billion financing that it will use to pay down debt, fund capital expansion, and unwind hedging arrangements.

Enbridge recently announced it is considering a significant investment in the Gulf Coast region. The plan could include terminals, import and export docks, and regional pipelines.

“The region has always been a massive energy corridor, but its prominence in North America and globally is growing,” said Guy Jarvis, who heads Enbridge’s liquids pipeline division.

“The refinery complex is huge, greater than eight million barrels per day, and it’s highly competitive on a global scale.”

The Enbridge Energy Partners, L.P. financing is comprised of the following:

  • $500 million aggregate principal amount of its notes due October 15, 2020 with a fixed-rate interest coupon of 4.375%
  • $500 million aggregate principal amount of its notes due October 15, 2025 with a fixed-rate interest coupon of 5.875%
  • $600 million aggregate principal amount of its notes due October 15, 2045 with a fixed-rate interest coupon of 7.375%

The settlement date for the offering was October 6, 2015.

 

 

Posted in: Energy Financial

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