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Enterprise Products Partners to sell up to $2.54B of common units

Enterprise Products Partners LP entered into an equity distribution agreement to issue and sell, from time to time, up to about $2.54 billion of common units, according to a Dec. 1 SEC filing.

Sales of the units will be made through the managers by means of ordinary broker transactions on the NYSE at market prices, in block transactions or as otherwise agreed by the partnership and the managers. Enterprise Product Partners may also sell the units to any of the managers as principal for its own account, at a price and at terms to be agreed upon at the time of sale.

The net proceeds from any sale of securities will be used for, unless otherwise specified, general partnership purposes such as working capital, investments in subsidiaries, the retirement of existing debt and/or the repurchase of common units or other securities, according to a Nov. 7 SEC filing.

Citigroup Global Markets Inc., Merrill Lynch Pierce Fenner & Smith Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., DNB Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Raymond James & Associates Inc., RBC Capital Markets LLC, Scotia Capital (USA) Inc., SG Americas Securities LLC, SMBC Nikko Securities America Inc., SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC, UBS Securities LLC, USCA Securities LLC and Wells Fargo Securities LLC are acting as managers with regard to the offering.