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Enterprise unit prices $3B senior note offering

Enterprise Products Partners LP unit Enterprise Products Operating LLC priced a $3 billion senior note offering consisting of $1 billion of senior notes due Jan. 31, 2030; $1 billion of senior notes due Jan. 31, 2051; and $1 billion of senior notes due Jan. 31, 2060.

The 2030 notes will be issued at 99.921% of the principal amount with a fixed-rate interest coupon of 2.800%. The 2051 notes will be issued at 99.413% of the principal amount with a fixed-rate interest coupon of 3.700% while the 2060 notes will be issued at 99.360% of the principal amount with a fixed-rate interest coupon of 3.950%, according to a Jan. 6 news release.

Proceeds will be used to repay debt, which includes outstanding amounts under Enterprise's commercial paper program, payment of $500 million senior notes Q due January 2020 and $1 billion of senior notes Y due September 2020, at their respective maturities, as well as for general company purposes that includes organic growth capital expenditures, the release said.

Citigroup Global Markets Inc., Barclays Capital Inc., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC acted as joint book-running managers for the offering.