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 pop 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...

To view this content, log into your member account. (Not a member? Join Today!)