HOUSTON, TX–(Marketwired – Oct 6, 2015) – Enbridge Energy Partners, L.P. (
Enbridge Partners intends to use the net proceeds from this offering to repay a portion of its outstanding commercial paper, to repay any credit facility borrowings that are outstanding, to fund a portion of its capital expansion projects, to fund the costs associated with unwinding certain interest hedging arrangements and for general partnership purposes or any combination of such purposes. Some or all of the net proceeds of this offering may be invested temporarily in short-term investment grade securities pending their use for such purposes.
The 2020 notes were issued at 99.464 percent of their principal amount and have a fixed-rate interest coupon of 4.375 percent. The 2025 notes were issued at 99.654 percent of their principal amount and have a fixed-rate interest coupon of 5.875 percent. The 2045 notes were issued at 98.665 percent of their principal amount and have a fixed-rate interest coupon of 7.375 percent. The settlement date for the offering was October 6, 2015.
Deutsche Bank Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Mizuho Securities USA Inc., DNB Markets, Inc., Mitsubishi UFJ Securities (USA), Inc., SMBC Nikko Securities America, Inc., Barclays Capital Inc., Wells Fargo Securities, LLC, and Credit Agricole Securities (USA) Inc. acted as joint book-running managers for the offering. An investor may obtain a free copy of the prospectus supplement and the accompanying base prospectus by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer or any underwriter or dealer that participated in this offering will arrange to send a prospectus supplement and the accompanying base prospectus to an investor if requested by contacting Deutsche Bank Securities Inc. at (800) 503-4611, BNP Paribas Securities Corp. at (800) 854-5674, Citigroup Global Markets at (800) 831-9146, or Morgan Stanley & Co. LLC at (866) 718-7649.
The offering was made pursuant to an effective shelf registration statement and prospectus filed by Enbridge Partners with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the 2020 notes, the 2025 notes or the 2045 notes described herein, nor shall there be any sale of the 2020 notes, the 2025 notes or the 2045 notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Enbridge Energy Partners, L.P.
Enbridge Partners owns and operates a diversified portfolio of crude oil and, through its interests in Midcoast Operating, L.P., natural gas transportation systems in the United States. Its principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. The system’s deliveries to refining centers and connected carriers in the United States account for approximately 17 percent of total U.S. oil imports. Midcoast Partners’ natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast areas, deliver approximately 2.2 billion cubic feet of natural gas daily. Enbridge Partners is recognized by Forbes as one of the 100 Most Trustworthy Companies in America.
Forward Looking Statements
This news release includes forward-looking statements and projections, which are statements that do not relate strictly to historical or current facts. These statements frequently use the following words, variations thereon or comparable terminology: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “position,” “projection,” “should,” “strategy,” “target,” “will” and similar words. Although Enbridge Partners believes that such forward-looking statements are reasonable based on currently available information, such statements involve risks, uncertainties and assumptions and are not guarantees of performance. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond Enbridge Partners’ ability to control or predict. Specific factors that could cause actual results to differ from those in the forward-looking statements include: (1) changes in the demand for or the supply of, forecast data for, and price trends related to crude oil, liquid petroleum, natural gas and NGLs, including the rate of development of the Alberta Oil Sands; (2) Enbridge Partners’ ability to successfully complete and finance expansion projects; (3) the effects of competition, in particular, by other pipeline systems; (4) shut-downs or cutbacks at Enbridge Partners’ facilities or refineries, petrochemical plants, utilities or other businesses for which Enbridge Partners transports products or to whom Enbridge Partners sells products; (5) hazards and operating risks that may not be covered fully by insurance, including those related to Line 6B and any additional fines and penalties assessed in connection with the crude oil release on that line; (6) changes in or challenges to Enbridge Partners’ tariff rates; (7) changes in laws or regulations to which Enbridge Partners is subject, including compliance with environmental and operational safety regulations that may increase costs of system integrity testing and maintenance; and (8) permitting at federal, state and local levels in regards to the construction of new assets.
Except to the extent required by law, we assume no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Reference should also be made to Enbridge Partners’ filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the most recently completed fiscal year and its subsequently filed Quarterly Reports on Form 10-Q, for additional factors that may affect results. These filings are available to the public over the Internet at the SEC’s web site (www.sec.gov) and at Enbridge Partners’ web site.
Media Relations Contact:
Terri Larson, APR
Toll-free: (877) 496-8142
E-mail: [email protected]