News Story
Enbridge Energy Partners Announces Closing of 14 Million Class A Common Unit Offering
HOUSTON TX -- (Marketwire) -- 09/11/12 -- Enbridge Energy Partners, L.P. (NYSE: EEP) (the "Partnership") announced today the closing of its previously announced public offering of 14 million of its Class A Common Units, that priced on September 6, 2012, at a price to the public of $28.64 per unit.
The Partnership expects to use the net proceeds from this offering of approximately $388.9 million to fund a portion of its capital expansion projects, for general partnership purposes or any combination of such purposes.
Morgan Stanley, BofA Merrill Lynch, Barclays, J.P. Morgan, UBS Investment Bank and Deutsche Bank Securities were 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:
Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd Floor
New York, NY 10014
Tel: (866) 718-1649
Email: prospectus@morganstanley.com
BofA Merrill Lynch
Attn: Prospectus Department
222 Broadway 7th Floor
New York, NY 10080
Email: dg.prospectus_requests@baml.com
Barclays
Attn: Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
Tel: (888) 603-5847
Email: barclaysprospectus@broadridge.com
J.P. Morgan
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: (866) 803- 9204
UBS Investment Bank
Attn: Prospectus Dept.
229 Park Avenue
New York, NY 10171
Tel: (888) 827-7275
Deutsche Bank Securities
Attn: Prospectus Department
60 Wall Street
New York, NY 10005
Tel: (800) 503-4611
About Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. (www.enbridgepartners.com) owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers and connected carriers in the United States account for approximately 13 percent of total U.S. oil imports; while deliveries to Ontario, Canada satisfy approximately 70 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver approximately 2.5 billion cubic feet of natural gas daily.
Enbridge Energy Management, L.L.C. (www.enbridgemanagement.com) (NYSE: EEQ) manages the business and affairs of the Partnership and its sole asset is an approximate 13 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, (NYSE: ENB) (TSX: ENB) (www.enbridge.com) is the general partner and holds an approximate 22 percent interest in the Partnership.
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