Enterprise Products Gets Line of Credit Hike, Can Borrow $5.5B!

eyes popping outFrom time to time we highlight companies that get their line of credit/borrowing power reevaluated by their bankers. Usually we spot announcements from exploration and production (E&P) companies, otherwise known as drillers on MDN. Sometimes we spot such announcements for midstream (or pipeline) companies. The one we spotted from yesterday about made our eyes popĀ out–by far the biggest such line of credit we’ve seen for a company with major operations in the northeast shale area. Enterprise Products Partners, which built and operates the 1,230-mile Appalachia-to-Texas Express (ATEX) ethane pipeline from Ohio to the Gulf Coast, announced they got a bump up in their credit line of $500 million. They now have the power to borrow up to $5.5 BILLION (yes, with a “b”). They could buy a small country with that kind of money…

Please Login to view this content. (Not a member? Join Today!)
Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.