EOTT ENERGY PARTNERS, L.P. ANNOUNCES PUBLIC OFFERING OF EQUITY AND DEBT
FOR IMMEDIATE RELEASE: Wednesday, September 8, 1999
HOUSTON - EOTT Energy Partners, L.P. (EOTT) announced today it intends to make a public offering of 3.5 million common units and concurrently will offer $235 million in debt to the public. The closing of the debt offering is conditioned upon the closing of the equity offering. Proceeds will be used by EOTT to refund existing debt and for general partnership purposes.
PaineWebber Incorporated will lead the equity underwriting syndicate, and Lehman Brothers, Dain Rauscher Incorporated and ING Barings will co-manage this equity offering. ING Barings and Lehman Brothers will be joint lead managers of the debt offering, with PaineWebber participating as a co-manager.
For a copy of the equity prospectus, please contact PaineWebber Incorporated’s Prospectus Department at (201) 352-6858.
For further information on the debt offering or for a copy of the prospectus, please contact Dan Negrea with ING Barings at (212) 409-6690.
EOTT Energy Partners, L.P. is a major independent gatherer and marketer of crude oil in the United States and Canada. Together with its predecessors, the Partnership has been serving the petroleum industry since 1946. Both EOTT Energy Partners, L.P. and EOTT Energy Corp., the general partner, are headquartered in Houston. The common units of EOTT Energy Partners, L.P. trade on the NYSE under the symbol "EOT."
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although EOTT Energy Partners, L.P. believes that its expectations are based on reasonable assumptions, it can give no assurance that such expectations will be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements herein include, but are not limited to, demand for various grades of crude oil and the resulting changes in pricing conditions, the success of the Partnership’s risk management activities, conditions of the capital markets and equity markets during the periods covered by the forward looking statements, and the Partnership’s success in integrating recently acquired assets.
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For additional information please contact:
Hardie Davis
(713) 853-6941
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