Enbridge Energy Partners, L.P. (NYSE: EEP) (“Enbridge Partners” or the “Partnership”) announced today it has commenced, subject to market conditions, an underwritten public offering of 8 million of its Class A Common Units representing limited partner interests. The Partnership is expected to grant the underwriters a 30-day option to purchase up to an additional 1.2 million Class A Common Units. The Partnership expects to use the net proceeds from the offering, including the proceeds from any exercise of the option to purchase additional Class A Common Units, to fund a portion of its capital expansion projects, for general partnership purposes or any combination of such purposes. Pending their use for such purposes, some or all of the net proceeds of this offering may be used to repay indebtedness or invested temporarily in short-term investment grade securities.
Barclays, Citigroup, J.P. Morgan and Morgan Stanley are joint book-running managers for the offering. The offering is made pursuant to an effective shelf registration statement and prospectus filed by the Partnership with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Class A Common Units described herein, nor shall there be any sale of these Class A Common Units 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. When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from the underwriters as follows:
Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: (888) 603-5847
Email: barclaysprospectus@broadridge.com
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (866) 803-9204
Morgan Stanley
Attention: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
You may also obtain these documents free of charge when they are available over the Internet at the SEC’s website at www.sec.gov.
About Enbridge Energy Partners, L.P.
Enbridge Partners owns and operates a diversified portfolio of crude oil and, through its interests in Midcoast Energy Partners, L.P. (“Midcoast Partners”), natural gas transportation systems in the United States. Its principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. The system’s deliveries to refining centers and connected carriers in the United States account for approximately 17 percent of total U.S. oil imports. Midcoast Partners’ natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast areas, deliver approximately 2.5 billion cubic feet of natural gas daily. Enbridge Partners is recognized by Forbes as one of the 100 Most Trustworthy Companies in America.
