debt
confidence high
sentiment neutral
materiality 0.50
Enterprise Products secures $500M delayed draw term loan facility from Wells Fargo
ENTERPRISE PRODUCTS PARTNERS L.P.
- EPO may borrow up to $500M by April 30, 2022; variable interest based on senior debt credit rating.
- Facility matures in March 2024; proceeds for general company purposes.
- Loan is unsecured but guaranteed by Enterprise Products Partners L.P.
- Borrowings reduce facility if less than $500M drawn; no borrowing by April 30 terminates agreement.
- Contains customary covenants and events of default restricting distributions if default occurs.