Enbridge Energy Partners Announces Pricing of 3.2 Million Class A
Common Units
HOUSTON, Sept. 9 /PRNewswire-FirstCall/ -- Enbridge Energy Partners, L.P. (NYSE:EEP) ("Enbridge Partners") today announced the pricing of a public
offering of 3.2 million of its Class A Common Units at a public offering price
of $47.90 per unit. All units are being sold by Enbridge Partners. The
offering is scheduled to close on September 15.
Enbridge Partners also has granted to the underwriters of this offering a
30-day option to purchase up to an additional 480,000 Class A Common Units to
cover any over-allotments.
Enbridge Partners intends to use the net proceeds from this offering to repay
indebtedness under its revolving credit facility, which was incurred primarily
to fund acquisitions and capital expenditures to enhance existing systems.
Citigroup Global Markets Inc. and Lehman Brothers Inc. acted as joint
book-running lead managers of the offering. In addition, A.G. Edwards & Sons,
Inc.; Goldman, Sachs & Co.; UBS Securities LLC; Wachovia Capital Markets, LLC
and Sanders Morris Harris Inc. acted as co-managers of the offering.
When available, copies of the final prospectus supplement and related
prospectus for this offering may be obtained from: Citigroup Global Markets
Inc., Brooklyn Army Terminal, Prospectus Department, 140 58th Street, Brooklyn,
NY 11220, Telephone 1-718-765-6732; or Lehman Brothers Inc., c/o ADP Financial
Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood,
NY 11717, Telephone 1-631-254-7106.
Enbridge Energy Partners, L.P. (http://www.enbridgepartners.com/ ) owns the
U.S. portion of the world's longest liquid petroleum pipeline and is active in
natural gas gathering, processing and transmission. Enbridge Energy
Management, L.L.C. (NYSE:EEQ) (http://www.enbridgemanagement.com/ ) manages the
business and affairs of the Partnership and its principal asset is an
approximate 18% interest in the Partnership following the above noted offering.
Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge
Inc. of Calgary, Alberta, is the General Partner of Enbridge Partners and holds
an approximate 12% effective interest in Enbridge Partners following the above
noted offering. Enbridge Inc. (NYSE:ENB) Toronto (http://www.enbridge.com/ )
common shares are traded on the Toronto Stock Exchange and on the New York
Stock Exchange under the symbol "ENB".
This news release does not constitute an offer to sell or a solicitation of an
offer to buy the limited partnership interests described herein, nor shall
there be any sale of these limited partnership interests 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. The offering may be made only by means of a prospectus and
related prospectus supplement. DATASOURCE: Enbridge Energy Partners, L.P.
CONTACT: Tracy Barker of Enbridge Energy Partners, L.P., +1-866-EEP-INFO or +1-866-337-4636, or fax, +1-713-821-2230, or Web site: http://www.enbridgepartners.com/ http://www.enbridgemanagement.com/ http://www.enbridge.com/
|