Enbridge Energy Partners LP (NYSE: EEP) priced a public offering of 8 million Class A common units, representing limited partner interests, at $36.70 each, the company said March 10.
Underwriters were granted a monthlong option to purchase an additional 1.2 million units.
Total gross proceeds are expected to be about $293.6 million. They will fund part of the capital expansion projects and support general corporate purposes. They might also be used to repay debts.
The offering is scheduled to close March 13, the company said.
Barclays, Citigroup (NYSE: C), J.P. Morgan and Morgan Stanley (NYSE: MS) are joint book-running managers.
Houston-based Enbridge Energy Partners LP owns and operates domestic crude oil and natural gas transportation systems.
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