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EPD 424B5: Secondary offering

Filed with the SEC on · accession 0001193125-26-453702

EPD filed a 424B5 (prospectus (offering)) with the SEC on Nov 9, 2026. The final terms of an offering of shares or bonds.

Summary of the filing

Enterprise Products Operating LLC priced a $1.5 billion public offering of two series of senior notes: $750 million of 5.20% notes due 2032 and $750 million of 5.65% notes due 2037, unconditionally guaranteed by Enterprise Products Partners L.P.

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Key details

Aggregate principal amount of 5.20% senior notes due 2032$750.0M
Aggregate principal amount of 5.65% senior notes due 2037$750.0M
Total public offering price of 2032 notes$748.8M
Total public offering price of 2037 notes$747.4M
Underwriting discount on 2032 notes$4.5M
Underwriting discount on 2037 notes$4.9M
Net proceeds to issuer from 2032 notes before expenses$744.3M
Net proceeds to issuer from 2037 notes before expenses$742.5M
IssuerEnterprise Products Operating LLC
Parent guarantorEnterprise Products Partners L.P.
Joint book-running managerMUFG
Joint book-running managerCitigroup
Joint book-running managerPNC Capital Markets LLC
Joint book-running managerSociete Generale
Joint book-running managerUS Bancorp
Joint book-running managerBBVA
Joint book-running managerCredit Agricole CIB
Joint book-running managerDeutsche Bank Securities
Joint book-running managerScotiabank
Joint book-running managerTD Securities

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Frequently asked questions

What did EPD file with the SEC on Nov 9, 2026?

EPD filed a 424B5 (Secondary offering). Enterprise Products Operating LLC priced a $1.5 billion public offering of two series of senior notes: $750 million of 5.20% notes due 2032 and $750 million of 5.65% notes due 2037, unconditionally guaranteed by Enterprise Products Partners L.P.

What does a secondary offering mean for EPD stock?

New shares dilute existing holders and are often sold at a discount to the market price.

How do I read a 424B5?

The final terms of an offering of shares or bonds. Look at price, number of shares and the discount to the market price. Large offerings dilute existing shareholders.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 424B5 (prospectus (offering)): The final terms of an offering of shares or bonds.

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