Finance & Investing | General | Capital Markets
Enterprise Ups Credit Facility to $4.5 Billion
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Enterprise Products Partners L.P. has reported that on June 19 its operating subsidiary, Enterprise Products Operating LLC (EPO), expanded its bank credit facilities to provide the company with an aggregate of up to $4.5 billion of borrowing capacity.
The facilities are comprised of an amended $3.5 billion multi-year revolving credit agreement that matures on June 19, 2018 and a new $1.0 billion 364-day revolving credit agreement. EPO’s obligations under both facilities are unconditionally guaranteed by Enterprise on an unsecured and unsubordinated basis. As of today, aggregate available liquidity under the bank credit facilities is approximately $4.5 billion.
"We are very pleased with the continued strong support from our bank group. We expect these facilities will provide the liquidity support and financial flexibility to execute our current and anticipated growth plans," said Michael A. Creel, chief executive officer of Enterprise’s general partner.