Enterprise Offers Note Swap For $2B In Teppco Debt

Law360, New York (September 24, 2009, 3:25 PM EDT) -- In advance of a pending merger between the energy companies, Enterprise Products Partners LP has announced an offering of $2 billion in notes intended to swap out existing debt on the books of its acquisition target, pipeline firm Teppco Partners LP.

Houston-based Enterprise announced the deal in filings Thursday with the U.S. Securities and Exchange Commission, saying its subsidiary Enterprise Products Operating LLC intends to exchange roughly $2 billion in existing Teppco notes for new Enterprise notes with the same interest rate and maturity dates....
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