HOUSTON, Nov. 15, 2005 (PRIMEZONE) -- Enbridge Energy Partners L.P. (NYSE:EEP) today announced that it has launched an offering through underwriters of 3,000,000 Class A Common Units representing limited partner interests. The offering also includes a 30-day option granted to the underwriters to purchase an additional 450,000 Common Units to cover any over-allotments.
Enbridge will use the net proceeds from this offering to repay a portion of its outstanding commercial paper that the Partnership issued to finance a portion of its current capital expansion projects.
UBS Securities LLC and Lehman Brothers Inc. are acting as joint book-running managers for the offering. The remainder of the underwriting group is comprised of Merrill Lynch, RBC Capital Markets Incorporated, Sanders Morris Harris Inc., Stifel Nicolaus & Company and Deutsche Bank. A copy of the preliminary prospectus supplement can be obtained from any of the underwriters, including UBS Securities LLC at 299 Park Avenue, 29th floor, New York, NY, 10171. Direct any requests to the attention of the Prospectus Department at (212) 713-8802.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the limited partnership interests described herein, nor shall there be any sale of these limited partnership interests 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. The offering may be made only by means of a prospectus and related prospectus supplement.