Enterprise Commences Exchange of 6.375% Series A Senior Notes.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--April 23, 2003 Enterprise Products Partners L.P. (NYSE NYSE See: New York Stock Exchange :EPD EPD expected progeny difference. ) announced today that its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Enterprise Products Operating L.P., is commencing an exchange offer to exchange its 6.375% Series B Senior Notes due 2013, which have been registered under the Securities Act of 1933, for any and all of its outstanding 6.375% Series A Senior Notes due 2013 that were issued on Jan. 16, 2003 in a private offering. At the time of the issuance of the notes in January, Enterprise agreed to offer to exchange them for registered notes. This exchange offer satisfies that requirement. The form and terms of the exchange notes are substantially the same as the form and terms of the notes issued in January 2003. The primary difference is that the exchange notes have been registered under the Securities Act of 1933 and therefore will not bear legends restricting their transfer. The exchange notes evidence the same debt as the notes they replace and will be issued under and will be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to the benefits of the indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. that governs the original notes. The exchange offer will expire at 5:00 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on May 28, 2003, unless extended by Enterprise in its sole discretion. A prospectus dated April 21, 2003, relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the exchange offer and setting forth the terms of the exchange notes is being mailed to record holders of the original notes. The Exchange Agent for the exchange offer is Wachovia Bank, National Association, Corporate Trust Operations - NC1153, 1525 West W.T. Harris Boulevard - 3C3, Charlotte, N.C. 28288. Eligible institutions may make requests by facsimile at 704/590-7628. Enterprise Products Partners L.P. is the second-largest publicly traded midstream mid·stream n. 1. The middle part of a stream. 2. The part of a course that is neither at the beginning nor at the end: the midstream of life. Noun 1. energy partnership with an enterprise value of over $6 billion. Enterprise is a leading provider of midstream energy services to producers and consumers of natural gas and natural gas liquids ("NGLs"). The Company's services include natural gas transportation, processing and storage and NGL NGL - A dialect of IGL. fractionation fractionation /frac·tion·a·tion/ (frak?shun-a´shun) 1. in radiology, division of the total dose of radiation into small doses administered at intervals. 2. (or separation), transportation, storage and import/export terminaling. This press release contains various forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and information that are based on the Company's beliefs and those of its general partner, as well as assumptions made by and information currently available to the Company. When used in this press release, words such as "anticipate," "project," "expect," "plan," "goal," "forecast," "intend," "could," "believe," "may" and similar expressions and statements regarding the plans and objectives of the Company for future operations, are intended to identify forward-looking statements. Although the Company and its general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither the Company nor its general partner can give assurances that such expectations will prove to be correct. Such statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, the Company's actual results may vary materially from those the Company anticipated, estimated, projected or expected. Among the key risk factors that may have a direct bearing on the Company's results of operations and financial condition are: -- Competitive practices in the industries in which the Company competes; -- Fluctuations in oil, natural gas and NGL prices and production due to weather and other natural and economic forces; -- Operational and systems risks; -- Environmental liabilities that are not covered not covered Health care adjective Referring to a procedure, test or other health service to which a policy holder or insurance beneficiary is not entitled under the terms of the policy or payment system–eg, Medicare. Cf Covered. by indemnity or insurance; -- The impact of current and future laws and governmental regulations (including environmental regulations) affecting the midstream energy industry in general and the Company's NGL and natural gas operations in particular; -- The loss of a significant customer; -- The use of financial instruments to hedge commodity and other risks that prove to be economically ineffective; and -- Failure to complete one or more new projects on time or within budget. The Company has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. |
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