Note 10. Debt Obligations

The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated:

	September 30,			December 31,
	2011			2010
EPO senior debt obligations:
Senior Notes B, 7.50% fixed-rate, due February 2011	$	--		$	450.0
Senior Notes S, 7.625% fixed-rate, due February 2012		490.5			490.5
Senior Notes P, 4.60% fixed-rate, due August 2012		500.0			500.0
$1.75 Billion Multi-Year Revolving Credit Facility, variable-rate, due November 2012		--			648.0
Senior Notes C, 6.375% fixed-rate, due February 2013		350.0			350.0
Senior Notes T, 6.125% fixed-rate, due February 2013		182.5			182.5
Senior Notes M, 5.65% fixed-rate, due April 2013		400.0			400.0
Senior Notes U, 5.90% fixed-rate, due April 2013		237.6			237.6
Senior Notes O, 9.75% fixed-rate, due January 2014		500.0			500.0
Senior Notes G, 5.60% fixed-rate, due October 2014		650.0			650.0
Senior Notes I, 5.00% fixed-rate, due March 2015		250.0			250.0
Senior Notes X, 3.70% fixed-rate, due June 2015		400.0			400.0
Senior Notes AA, 3.20% fixed-rate, due February 2016		750.0			--
$3.5 Billion Multi-Year Revolving Credit Facility, variable-rate, due September 2016		720.0			--
Senior Notes L, 6.30% fixed-rate, due September 2017		800.0			800.0
Senior Notes V, 6.65% fixed-rate, due April 2018		349.7			349.7
Senior Notes N, 6.50% fixed-rate, due January 2019		700.0			700.0
Senior Notes Q, 5.25% fixed-rate, due January 2020		500.0			500.0
Senior Notes Y, 5.20% fixed-rate, due September 2020		1,000.0			1,000.0
Senior Notes CC, 4.05% fixed-rate, due February 2022		650.0			--
Senior Notes D, 6.875% fixed-rate, due March 2033		500.0			500.0
Petal GO Zone Bonds, variable-rate, due August 2034 (1)		--			57.5
Senior Notes H, 6.65% fixed-rate, due October 2034		350.0			350.0
Senior Notes J, 5.75% fixed-rate, due March 2035		250.0			250.0
Senior Notes W, 7.55% fixed-rate, due April 2038		399.6			399.6
Senior Notes R, 6.125% fixed-rate, due October 2039		600.0			600.0
Senior Notes Z, 6.45% fixed-rate, due September 2040		600.0			600.0
Senior Notes BB, 5.95% fixed-rate, due February 2041		750.0			--
Senior Notes DD, 5.70% fixed-rate, due February 2042		600.0			--
TEPPCO senior debt obligations:
TEPPCO Senior Notes, 7.625% fixed-rate, due February 2012		9.5			9.5
TEPPCO Senior Notes, 6.125% fixed-rate, due February 2013		17.5			17.5
TEPPCO Senior Notes, 5.90% fixed-rate, due April 2013		12.4			12.4
TEPPCO Senior Notes, 6.65% fixed-rate, due April 2018		0.3			0.3
TEPPCO Senior Notes, 7.55% fixed-rate, due April 2038		0.4			0.4
Duncan Energy Partners' debt obligations:
DEP Term Loan, variable-rate, due December 2011		--			282.3
DEP $850 Million Multi-Year Revolving Credit Facility, variable-rate, due October 2013		--			106.0
DEP $400 Million Term Loan Facility, variable-rate, due October 2013		--			400.0
Total principal amount of senior debt obligations		13,520.0			11,993.8
EPO Junior Subordinated Notes A, fixed/variable-rate, due August 2066		550.0			550.0
EPO Junior Subordinated Notes C, fixed/variable-rate, due June 2067		285.8			285.8
EPO Junior Subordinated Notes B, fixed/variable-rate, due January 2068		682.7			682.7
TEPPCO Junior Subordinated Notes, fixed/variable-rate, due June 2067		14.2			14.2
Total principal amount of senior and junior debt obligations		15,052.7			13,526.5
Other, non-principal amounts:
Change in fair value of debt hedged in fair value hedging relationship (2)		81.5			49.3
Unamortized discounts, net of premiums		(30.4	)		(24.0	)
Unamortized deferred net gains related to terminated interest rate swaps (2)		4.9			11.7
Total other, non-principal amounts		56.0			37.0
Less current maturities of debt (3)		(1,000.0	)		(282.3	)
Total long-term debt	$	14,108.7		$	13,281.2

(1) See Note 6 for information concerning the reclassification of Petal GO Zone Bonds to liabilities related to assets held for sale. (2) See Note 4 for information regarding our interest rate hedging activities. (3) We expect to refinance the current maturities of our debt obligations prior to their maturity.

Letters of Credit

At September 30, 2011, EPO had $87.5 million in letters of credit outstanding related to its commodity derivative instruments and a $58.3 million letter of credit outstanding related to its Petal GO Zone Bonds. These letter of credit facilities do not reduce the amount available for borrowing under EPO's $3.5 Billion Multi-Year Revolving Credit Facility.

Parent-Subsidiary Guarantor Relationships

Enterprise Products Partners L.P. acts as guarantor of the consolidated debt obligations of EPO with the exception of the remaining debt obligations of TEPPCO. If EPO were to default on any of its guaranteed debt, Enterprise Products Partners L.P. would be responsible for full repayment of that obligation.

Debt Obligations

Apart from that discussed below and routine fluctuations in the balance of our consolidated revolving credit facilities, there have been no significant changes in the terms or amounts of our consolidated debt obligations since those reported in our 2010 Form 10-K.

$3.5 Billion Multi-Year Revolving Credit Facility. In September 2011, EPO entered into a new $3.5 billion variable-rate multi-year revolving credit facility that matures in September 2016. Initial borrowings under this credit facility were used to refinance and terminate EPO's prior $1.75 billion multi-year revolving credit facility. Future borrowings under the new credit facility may be used for working capital, capital expenditures, acquisitions and general partnership purposes.

As defined by the credit agreement, variable interest rates charged under this facility bear interest at a LIBOR rate plus an applicable margin. In addition, EPO is required to pay a quarterly facility fee on each lender's commitment irrespective of commitment usage. This revolving credit facility allows us to request up to two one-year extensions of the maturity date, subject to lender approval. The total amount of the bank commitments may be increased, without the consent of the lenders, by an amount not exceeding $500 million by adding one or more lenders to the facility and/or requesting that the commitments of existing lenders be increased.

The revolving credit facility contains certain financial and other customary affirmative and negative covenants. The credit agreement also restricts EPO's ability to pay cash distributions to Enterprise Products Partners L.P. if a default or an event of default (as defined in the credit agreement) has occurred and is continuing at the time such distribution is scheduled to be paid. EPO's borrowings under this agreement are unsecured general obligations that are non-recourse to Enterprise GP.

Issuance of Senior Notes CC and DD. In August 2011, EPO issued $650.0 million in principal amount of 10-year unsecured Senior Notes CC and $600.0 million in principal amount of 30-year unsecured Senior Notes DD. Senior Notes CC were issued at 99.790% of their principal amount, have a fixed interest rate of 4.05% and mature on February 15, 2022. Senior Notes DD were issued at 99.887% of their principal amount, have a fixed interest rate of 5.70% and mature on February 15, 2042. Net proceeds from the issuance of Senior Notes CC and DD were used (i) to temporarily reduce borrowings outstanding under $1.75 Billion EPO's Multi-Year Revolving Credit Facility and (ii) for general company purposes.

EPO's senior fixed-rate notes are unsecured obligations of EPO and rank equal with its existing and future unsecured and unsubordinated indebtedness. They are senior to any existing and future subordinated indebtedness of EPO. EPO's senior notes are subject to make-whole redemption rights and were issued under indentures containing certain covenants, which generally restrict its ability, with certain exceptions, to incur debt secured by liens and engage in sale and leaseback transactions.

Issuance of Senior Notes AA and BB. In January 2011, EPO issued $750.0 million in principal amount of 5-year unsecured Senior Notes AA and $750.0 million in principal amount of 30-year unsecured Senior Notes BB. Senior Notes AA were issued at 99.901% of their principal amount, have a fixed interest rate of 3.20% and mature on February 1, 2016. Senior Notes BB were issued at 99.317% of their principal amount, have a fixed interest rate of 5.95% and mature on February 1, 2041. Net proceeds from the issuance of Senior Notes AA and BB were used (i) to repay $450.0 million in aggregate principal amount of Senior Notes B that matured in February 2011, (ii) to temporarily reduce borrowings outstanding under EPO's Multi-Year Revolving Credit Facility and (iii) for general company purposes.

Cancellation of Canadian Revolving Credit Facility. This facility was cancelled in January 2011. As of December 31, 2010, there were no debt obligations outstanding under this $30 million revolving credit facility.

Covenants

We were in compliance with the financial covenants of our consolidated debt agreements at September 30, 2011.

Information Regarding Variable Interest Rates Paid

The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt obligations during the nine months ended September 30, 2011:

	Range of Interest Rates Paid	Weighted-Average Interest Rate Paid
EPO $1.75 Billion Multi-Year Revolving Credit Facility	0.69% to 3.25%	0.79%
EPO $3.5 Billion Multi-Year Revolving Credit Facility	1.60% to 3.63%	1.60%
DEP Term Loan	1.06% to 1.42%	1.21%
DEP $850 Million Multi-Year Revolving Credit Facility	2.01% to 2.43%	2.22%
DEP $400 Million Term Loan Facility	2.26% to 2.97%	2.55%
Petal GO Zone Bonds	0.06% to 0.33%	0.20%

Consolidated Debt Maturity Table

The following table presents contractually scheduled maturities of our consolidated debt obligations for the next five years, and in total thereafter:

			Scheduled Maturities of Debt
	Total		2012		2013		2014		2015		After 2015
Revolving Credit Facility	$	720.0	$	--	$	--	$	--	$	--	$	720.0
Senior Notes		12,800.0		1,000.0		1,200.0		1,150.0		650.0		8,800.0
Junior Subordinated Notes		1,532.7		--		--		--		--		1,532.7
Total	$	15,052.7	$	1,000.0	$	1,200.0	$	1,150.0	$	650.0	$	11,052.7

Debt Obligations of Unconsolidated Affiliates

At September 30, 2011, we had two privately held unconsolidated affiliates – Poseidon and Centennial – with long-term debt obligations. The following table shows (i) our ownership interest in each entity at September 30, 2011, (ii) the total debt of each entity at September 30, 2011 (on a 100% basis to the unconsolidated affiliate) and (iii) the corresponding scheduled maturities of such debt.

				Scheduled Maturities of Debt
	Ownership Interest	Total		Remainder of 2011		2012		2013		2014		2015		After 2015
Poseidon	36%	$	92.0	$	--	$	--	$	--	$	--	$	92.0	$	--
Centennial	50%		104.2		2.3		8.9		8.6		8.6		8.6		67.2
Total		$	196.2	$	2.3	$	8.9	$	8.6	$	8.6	$	100.6	$	67.2

The credit agreements of Poseidon and Centennial include customary financial and other covenants. These businesses were in compliance with such financial covenants at September 30, 2011. The credit agreements of these unconsolidated affiliates restrict their ability to pay cash dividends or distributions if a default or an event of default (as defined in each credit agreement) has occurred and is continuing at the time such dividend or distribution is scheduled to be paid.

In March 2011, Evangeline made the final scheduled payment of $3.2 million on its subordinated note payable. Following this payment, Evangeline no longer has any debt obligations.

Poseidon refinanced its revolving credit facility in April 2011. The new replacement facility matures in April 2015 and has a borrowing capacity of $125 million, which may be increased to a maximum of $175 million at Poseidon's option.

For information regarding Energy Transfer Equity's debt obligations, go to www.sec.gov for the registrant's periodic reports.