|
Filed Pursuant to Rule 433 Registration No. 333-145709 Registration No. 333-145709-01 December 3, 2008 |
PRICING TERM SHEET
| 9.75% Senior Notes due January 31, 2014 |
||
| Issuer: | Enterprise Products Operating LLC |
|
| Guarantee: | Unconditionally guaranteed by Enterprise Products
Partners L.P. |
|
| Trade Date: | December 3, 2008 |
|
| Expected Settlement Date: | December 8, 2008 |
|
| Note Type: | Senior Unsecured Notes |
|
| Legal Format: | SEC Registered |
|
| Size: | $500,000,000 |
|
| Maturity Date: | January 31, 2014 |
|
| Coupon: | 9.75% |
|
| Interest Payment Dates: | January 31 and July 31, commencing January 31, 2009 |
|
| Price to Public: | 100% |
|
| Benchmark Treasury: | 2.00% due November 2013 |
|
| Benchmark Treasury Yield: | 1.611% |
|
| Make-Whole Call: | T +50 bps |
|
| CUSIP: | 29379V AD5 |
|
| ISIN: | US29379VAD55 |
|
| Ratings*: | Baa3 by Moody’s Investors Service, Inc. BBB- by Standard & Poor’s Ratings Services BBB- by Fitch Ratings |
|
| Recent Development: | Contemplated Affiliate Transaction During 2008, we have been contemplating the possible sale of interests in certain assets to Duncan Energy Partners L.P. The transaction as currently contemplated would involve consideration of cash and Duncan Energy Partners’ equity interests to us, as well as a retained interest by us in the assets. If pursued, the transaction would be subject to, among other things, the approval of the board of directors of the general partner of Duncan Energy Partners L.P. and its Audit, Conflicts and Governance Committee; the approval of the board of directors of the general partner and the Audit, Conflicts and Governance Committee of Duncan Energy Partners L.P.; and negotiation of and agreement on definitive terms and conditions. As a result, we can give no assurance regarding the consummation of such a possible transaction or, if it is consummated, the timing, terms or results. |
|
| Joint Book-Running Managers: | Barclays Capital Inc. DnB NOR Markets, Inc. Mizuho Securities USA Inc. Greenwich Capital Markets, Inc. Scotia Capital (USA) Inc. Wachovia Capital Markets, LLC |
|
*Note: A securities rating is not a recommendation to buy, sell or hold securities and
may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the
offering to which this communication relates. Before you invest, you should read the prospectus in
that registration statement and other documents the issuer has filed with the SEC for more complete
information about the issuer and this offering. You may get these documents for free by visiting
EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling
Barclays Capital Inc. at 1-888-227-2275 (ext. 2663), DnB NOR Markets, Inc. at 1-212-681-3800,
Mizuho Securities USA Inc. at 1-800-221-8866 (ext. 3143), Greenwich Capital Markets, Inc. at
1-866-884-2071, Scotia Capital (USA) Inc. at 1-800-372-3930, or Wachovia Capital Markets, LLC at
1-800-326-5897.