-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K+9G/MIv7qz5UIwDVVbdbDID8O3ETB19ICWaAlsvSZ+4WKmKnNVipoAs//vSCUR5 ImRF+/VEmjpCkUG/1hOFaQ== 0000950129-06-008012.txt : 20060823 0000950129-06-008012.hdr.sgml : 20060823 20060823103158 ACCESSION NUMBER: 0000950129-06-008012 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20060823 DATE AS OF CHANGE: 20060823 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ENTERPRISE PRODUCTS PARTNERS L P CENTRAL INDEX KEY: 0001061219 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 760568219 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 2727 NORTH LOOP WEST CITY: HOUSTON STATE: TX ZIP: 77008 BUSINESS PHONE: 7138806500 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ENTERPRISE PRODUCTS OPERATING L P CENTRAL INDEX KEY: 0001102995 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 760568220 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-123150-01 FILM NUMBER: 061050043 BUSINESS ADDRESS: STREET 1: 2727 NORTH LOOP WEST STREET 2: STE 700 CITY: HOUSTON STATE: TX ZIP: 77210-4324 BUSINESS PHONE: 7138806500 MAIL ADDRESS: STREET 1: PO BOX 4324 CITY: HOUSTON STATE: TX ZIP: 77210 FWP 1 h39143fwfwp.htm FREE WRITING PROSPECTUS - REGISTRATION NO.333-123150 fwp
 

Filed pursuant to Rule 433
File numbers 333-123150 and
333-123150-01

August 22, 2006
FINAL TERM SHEET
ENTERPRISE PRODUCTS OPERATING LP.
(ENTERPRISE LOGO)
8.375% Fixed/Floating Rate Junior Subordinated Notes due 2066 (“LoTSSM”)
Guaranteed to the extent described in the preliminary prospectus supplement dated August 22, 2006
by Enterprise Products Partners L.P.
     
Issuer:
  Enterprise Products Operating L.P.
 
    
Principal Amount:
  $200,000,000
 
    
Ratings:
  Ba1/stable / B+/positive / BB+/stable (Moody’s/S&P/Fitch)
 
    
Security Type:
  Junior Subordinated Notes due 2066
 
    
Legal Format:
  SEC Registered
 
    
Trade Date:
  August 22, 2006
 
    
Settlement Date:
  August 25, 2006
 
    
Maturity Date:
  August 1, 2066
 
    
Price to Public:
  103.104%
 
    
Public Offering Price:
  $206,208,000
 
    
Commissions to Underwriters:
  1.125% per LoTSSM; $2,250,000 in the aggregate
 
    
Net Proceeds to Issuer After
     Deducting Underwriting
     Commissions and Expenses
     before Accrued Interest:
 


$203,733,000
 
    
Accrued Interest to Issuer:
  $1,721,527.78, 8.375% accrued from July 18, 2006 to and including August 24, 2006
 
    
Total Proceeds to Issuer:
  $205,454,527.78
 
    
Interest during Fixed Rate
     Period:
 
From July 18, 2006 to August 1, 2016, at the annual rate of 8.375%, payable semi-annually in arrears on February 1 and August 1 of each year, commencing on February 1, 2007, subject to the Issuer’s right to defer interest on one or more occasions for up to ten consecutive years.
SMLoTS is a service mark of Wachovia Corporation.

-1-

 

     
Interest during Floating
    Rate Period:
 
From August 1, 2016 through maturity at a floating rate based on the 3-month LIBOR Rate plus 370.75 basis points, reset quarterly, payable quarterly in arrears on February 1, May 1, August 1 and November 1 of each year, subject to the Issuer’s right to defer interest on one or more occasions for up to ten consecutive years.
 
    
Benchmark Treasury:
  4.875% due August 15, 2016
 
    
Spread to Benchmark:
  310 basis points (3.10%)
 
    
Treasury Strike:
  4.815%
 
    
Optional Redemption:
  On or after August 1, 2016, in whole or in part at 100% of the principal amount plus accrued and unpaid interest.
 
    
 
  Prior to August 1, 2016, in whole or in part upon payment of a make-whole redemption price equal to (a) all accrued and unpaid interest to but not including the redemption date, plus (b) the greater of (1) 100% of the principal amount of the LoTSSM being redeemed and (2) as determined by the Independent Investment Banker, the sum of the present values of remaining scheduled payments of principal and interest on the LoTSSM (exclusive of interest accrued to the redemption date) being redeemed from the redemption date to August 1, 2016, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield plus 50 basis points.
 
    
Denomination:
  $1,000
 
    
CUSIP/ISIN:
  293791AV1 / US293791AV15
 
    
Book Running Manager:
  Wachovia Capital Markets, LLC
 
    
Co-Managers:
  HVB Capital Markets, Inc. and SG Americas Securities, LLC
 
    
Underwriting Economics
  Wachovia Capital Markets, LLC — 90%
HVB Capital Markets, Inc. — 5%
SG Americas Securities, LLC — 5%
Terms used but not defined in this term sheet have the meanings assigned to them in the preliminary prospectus supplement dated August 22, 2006.
The Issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus for this offering 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 website at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling:
Wachovia Securities    1-800-326-5897

 

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