UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): October 1, 2004
ENTERPRISE PRODUCTS PARTNERS L.P.
(Exact name of registrant as specified in its charter)
Delaware |
1-14323 |
76-0568219 |
(State or Other Jurisdiction of Incorporation or Organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
|
2727 North Loop West, Houston, Texas |
77008-1044 |
|
(Address of Principal Executive Offices) |
(Zip Code) |
|
Registrants Telephone Number, including Area Code: (713) 880-6500
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a
Material Definitive Agreement.
The
information included in Item 2.03 of this Current Report on Form 8-K is incorporated by
reference into this Item 1.01 of this Current Report on Form 8-K.
Item
2.03 Creation of a
Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
On
October 4, 2004, Enterprise Products Operating L.P. (the Operating
Partnership), a wholly owned subsidiary of Enterprise Products Partners L.P. (the
Partnership) closed the private placement of $2 billion in aggregate principal
amount of the Operating Partnerships Senior Notes (as defined below) pursuant to an
Indenture (as defined below) dated as of October 4, 2004. The Senior Notes (as defined
below) were sold within the United States only to qualified institutional buyers in
reliance on Rule 144A under the Securities Act, and outside the United States only to
non-U.S. persons in reliance on Regulation S under the Securities Act. The $2 billion in
aggregate principal amount of Senior Notes (as defined below) were sold in four separate
series as follows:
Principal Amount |
Issue Price |
Fixed-Coupon Rate |
Maturity Date |
$500 million |
99.922% |
4.000% |
October 15, 2007 (the 2007 Notes) |
$500 million |
99.719% |
4.625% |
October 15, 2009 (the 2009 Notes) |
$650 million |
99.914% |
5.600% |
October 15, 2014 (the 2014 Notes) |
$350 million |
99.674% |
6.650% |
October 15, 2034 (the 2034 Notes) |
The
four series of senior notes (together with the related guarantee) referenced in the table
above are collectively referred to in this Current Report on Form 8-K as the Senior
Notes.
The
Senior Notes were sold pursuant to an Indenture dated as of October 4, 2004 (the
Base Indenture), among the Operating Partnership, as Issuer, the Partnership,
as Guarantor, and Wells Fargo Bank, National Association, as Trustee, as amended by the
First Supplemental Indenture (with respect to the 2007 Notes), the Second Supplemental
Indenture (with respect to the 2009 Notes), the Third Supplemental Indenture (with respect
to the 2014 Notes) and the Fourth Supplemental Indenture (with respect to the 2034 Notes),
each dated as of the October 4, 2004 (the Base Indenture, as so amended and supplemented,
the Indenture). Copies of the Base Indenture, the First Supplemental
Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture and the
Fourth Supplemental Indenture and forms of the 2007 Notes, 2009 Notes, 2014 Notes and 2034
Notes are filed as Exhibits 4.1 through 4.16 to this Current Report on Form 8-K and are
incorporated by reference into this Item 2.03.
The
description of the Senior Notes and the terms of the Indenture governing the Senior Notes
contained in our Current Report on Form 8-K filed with the Commission on September 27,
2004 are incorporated by reference into this Item 2.03 of this Current Report on Form 8-K.
On
October 4, 2004, the Operating Partnership and the Partnership also entered into a
Registration Rights Agreement relating to the Senior Notes with Wachovia Capital Markets,
LLC, Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Lehman Brothers Inc. A
copy of the Registration Rights Agreement is attached hereto as Exhibit 4.10 and
incorporated herein by reference. The description of the of the terms of the Registration
Rights Agreement contained in our Current Report on Form 8-K filed with the Commission on
September 27, 2004 are incorporated by reference into this Item 2.03 of this Current
Report on Form 8-K.
The
description set forth above is qualified in its entirety by the Base Indenture, the First
Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental
Indenture, the Fourth Supplemental Indenture, the form of the 2007 Notes, the form of the
2009 Notes, the form of the 2014 Notes, the form of 2034 Notes and the Registration Rights
Agreement filed herewith as exhibits.
The
press release announcing the closing of the private placement is filed as Exhibit 99.1 to
this Current Report on Form 8-K and incorporated by reference into this Item 2.03.
Item 8.01 Other Events.
On
October 1, 2004, Enterprise contributed its 100% equity interest in GulfTerra and
GulfTerra Energy Company, L.L.C. (GulfTerras general partner) to the Operating
Partnership. As a result, GulfTerra and its general partner are now wholly-owned
subsidiaries of the Operating Partnership.
On
October 5, 2004, Enterprise announced the expiration, as of 5:00 p.m., New York City time,
on Oct. 4, 2004, of all the cash tender offers made by the Operating Partnership for any
and all of the outstanding senior subordinated and senior notes of GulfTerra and GulfTerra
Energy Finance Corporation (collectively referred to as GulfTerra) totaling
approximately $921.5 million. The Operating Partnership accepted for payment all senior
notes validly tendered and not validly withdrawn. As of the expiration time of the cash
tender offers, the Operating Partnership had received tenders of senior subordinated and
senior notes aggregating $915.1 million, or 99.3% of the notes outstanding. The Operating
Partnership settled the four cash tender offers for an aggregate purchase price of
$1,073.3 million. The Operating Partnership retired these purchased notes.
The
press release announcing the settlement of the cash tender offers is filed as Exhibit 99.2
to this Current Report on Form 8-K and incorporated by reference into this Item 8.01.
Item 9.01 Financial
Statements and Exhibits.
(c)
Exhibits.
4.1 |
Indenture
dated as of October 4, 2004, among Enterprise Products Operating, as Issuer, Enterprise
Products Partners, as Guarantor, and Wells Fargo Bank, National Association, as Trustee. |
4.2 |
First Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and |
|
Wells Fargo Bank, National
Association, as Trustee. |
4.3 |
Second
Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee. |
4.4 |
Third
Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee. |
4.5 |
Fourth
Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee. |
4.6 |
Rule 144A Global Note representing $500 million principal amount of 4.000% Series A Senior
Notes due 2007 with attached Guarantee. |
4.7 |
Rule
144A Global Note representing $491 million principal amount of 4.625% Series A Senior
Notes due 2009 with attached Guarantee. |
4.8 |
Regulation
S Global Note representing $9 million principal amount of 4.625% Series A Senior Notes
due 2009 with attached Guarantee. |
4.9 |
Rule
144A Global Note representing $500 million principal amount of 5.600% Series A Senior
Notes due 2014 with attached Guarantee. |
4.10 |
Rule
144A Global Note representing $144.5 million principal amount of 5.600% Series A Senior
Notes due 2014 with attached Guarantee. |
4.11 |
Regulation
S Global Note representing $5.5 million principal amount of 5.600% Series A Senior Notes
due 2014 with attached Guarantee. |
4.12 |
Rule
144A Global Note representing $350 million principal amount of 6.650% Series A Senior
Notes due 2034 with attached Guarantee. |
4.13 |
Form
of Global Note representing $500 million principal amount of 4.000% Series B Senior Notes
due 2007 with attached Guarantee (included in Exhibit 4.2). |
4.14 |
Form
of Global Note representing $500 million principal amount of 4.625% Series B Senior Notes
due 2009 with attached Guarantee (included in Exhibit 4.3). |
4.15 |
Form
of Global Note representing $650 million principal amount of 5.600% Series B Senior Notes
due 2014 with attached Guarantee (included in Exhibit 4.4). |
4.16 |
Form
of Global Note representing $350 million principal amount of 6.650% Series B Senior Notes
due 2034 with attached Guarantee (included in Exhibit 4.5). |
4.17 |
Registration Rights Agreement dated as of October 4, 2004, among Enterprise Products
Operating L.P., Enterprise Products Partners L.P. and
the Initial Purchasers named therein. |
99.1 |
Press release dated October 4, 2004. |
99.2 |
Press release dated October 5, 2004. |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this Report to be signed on its behalf by the undersigned hereunto duly authorized.
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ENTERPRISE PRODUCTS PARTNERS L.P. |
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By: |
Enterprise Products GP, LLC,
its General Partner |
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Date: October 6, 2004 |
By: |
/s/ Michael J. Knesek
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Name: Michael J. Knesek
Title: Vice President, Controller and Principal
Accounting Officer of Enterprise
Products GP, LLC |
INDEX TO EXHIBITS
4.1 |
Indenture
dated as of October 4, 2004, among Enterprise Products Operating, as Issuer, Enterprise
Products Partners, as Guarantor, and Wells Fargo Bank, National Association, as Trustee. |
4.2 |
First Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee. |
4.3 |
Second
Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee. |
4.4 |
Third
Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee. |
4.5 |
Fourth
Supplemental Indenture dated as of October 4, 2004, among Enterprise Products Operating,
as Issuer, Enterprise Products Partners, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee. |
4.6 |
Rule 144A Global Note representing $500 million principal amount of 4.000% Series A Senior
Notes due 2007 with attached Guarantee. |
4.7 |
Rule
144A Global Note representing $491 million principal amount of 4.625% Series A Senior
Notes due 2009 with attached Guarantee. |
4.8 |
Regulation
S Global Note representing $9 million principal amount of 4.625% Series A Senior Notes
due 2009 with attached Guarantee. |
4.9 |
Rule
144A Global Note representing $500 million principal amount of 5.600% Series A Senior
Notes due 2014 with attached Guarantee. |
4.10 |
Rule
144A Global Note representing $144.5 million principal amount of 5.600% Series A Senior
Notes due 2014 with attached Guarantee. |
4.11 |
Regulation
S Global Note representing $5.5 million principal amount of 5.600% Series A Senior Notes
due 2014 with attached Guarantee. |
4.12 |
Rule
144A Global Note representing $350 million principal amount of 6.650% Series A Senior
Notes due 2034 with attached Guarantee. |
4.13 |
Form
of Global Note representing $500 million principal amount of 4.000% Series B Senior Notes
due 2007 with attached Guarantee (included in Exhibit 4.2). |
4.14 |
Form
of Global Note representing $500 million principal amount of 4.625% Series B Senior Notes
due 2009 with attached Guarantee (included in Exhibit 4.3). |
4.15 |
Form
of Global Note representing $650 million principal amount of 5.600% Series B Senior Notes
due 2014 with attached Guarantee (included in Exhibit 4.4). |
4.16 |
Form
of Global Note representing $350 million principal amount of 6.650% Series B Senior Notes
due 2034 with attached Guarantee (included in Exhibit 4.5). |
4.17 |
Registration Rights Agreement dated as of October 4, 2004, among Enterprise Products
Operating L.P., Enterprise Products Partners L.P. and
the Initial Purchasers named therein. |
99.1 |
Press release dated October 4, 2004. |
99.2 |
Press release dated October 5, 2004. |