A gainst the continued backdrop of historically low in-terest rates, capital markets have again been ori-ented toward yield instruments. Pipeline and midstream operators have taken center stage, with master limited partnership (MLP) offerings by Enterprise Product Partners LP and El Paso Pipeline Partners, and a preference share offering by Canadian-based Enbridge Inc. Enterprise Product Partners, based in Houston, raised $473 million, including the overallotment option, in an offering of 9.2 million common units priced at $53.07 per unit. Its management has recommended a total cash distribution of $0.65 for the third quarter, or $2.60 per unit on an annualized basis, a yield of 4.9%.
展开▼
