Attached files

file filename
8-K - FORM 8-K - ENBRIDGE ENERGY PARTNERS LPd264853d8k.htm
EX-5.1 - OPINION OF FULBRIGHT & JAWORSKI L.L.P. - ENBRIDGE ENERGY PARTNERS LPd264853dex51.htm
EX-8.1 - OPINION OF FULBRIGHT & JAWORSKI L.L.P. REGARDING TAX MATTERS - ENBRIDGE ENERGY PARTNERS LPd264853dex81.htm
EX-1.1 - UNDERWRITING AGREEMENT DATED AS OF DECEMBER 2, 2011 - ENBRIDGE ENERGY PARTNERS LPd264853dex11.htm

Exhibit 99.1

LOGO

news release

Enbridge Energy Partners Prices 8.5 Million Class A Common Unit Offering

HOUSTON, December 2, 2011 — Enbridge Energy Partners, L.P. (NYSE: EEP) (“the Partnership”) announced today that it has priced an underwritten public offering of 8.5 million of its Class A Common Units at a price to the public of $30.85 per unit. The offering is expected to close on December 7, 2011. The Partnership also granted the underwriters a 30-day option to purchase up to an additional 1.275 million Class A Common Units to cover any over-allotments.

The Partnership expects net proceeds from the offering will be approximately $254 million. The Partnership expects to use the net proceeds from the offering, including the proceeds from any exercise of the overallotment option, to fund a portion of its capital expansion projects, for general partnership purposes or any combination of such purposes.

BofA Merrill Lynch, Morgan Stanley, Citigroup, J.P. Morgan, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are joint book-running managers for the offering. The offering is made pursuant to an effective shelf registration statement and prospectus filed by the Partnership with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Class A Common Units described herein, nor shall there be any sale of these Class A Common Units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from the underwriters as follows:

BofA Merrill Lynch

Attn: Prospectus Dept

4 World Financial Center

New York, NY 10080

Email: dg.prospectus_requests@baml.com

Morgan Stanley

Attn: Prospectus Dept.

180 Varick Street, 2nd Floor

New York, NY 10014

Tel: (866) 718-1649

Email: prospectus@morganstanley.com

Citigroup

Attn: Prospectus Dept.

Brooklyn Army Terminal

140 58th Street, 8th Floor

Brooklyn, NY 11220

Tel: (800) 831- 9146

Email:batprospectusdept@citi.com

J.P. Morgan

Attn: Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Tel: (866) 803- 9204

RBC Capital Markets

Attn: Prospectus Dept.

3 World Financial Center

200 Vesey Street, 8th Floor

New York, NY 10281-8098

Tel: (877) 822-4089


UBS Investment Bank

Attn: Prospectus Dept.

229 Park Avenue

New York, NY 10171

Tel: (888) 827-7275

Wells Fargo Securities

Attn: Equity Syndicate Dept.

375 Park Avenue

New York, NY 10152

Tel: (800) 326-5897

Email: cmclientsupport@ wellsfargo.com

PARTNERSHIP INFORMATION

Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil and liquid petroleum transportation and storage assets and natural gas gathering, treatment, processing, transportation and marketing assets in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system’s deliveries to refining centers and connected carriers in the United States account for approximately 13 percent of total U.S. oil imports; while deliveries to Ontario, Canada satisfy approximately 70 percent of refinery demand in that region. The Partnership’s natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver approximately 2.5 billion cubic feet of natural gas daily.

Enbridge Energy Management, L.L.C. (NYSE: EEQ) manages the business and affairs of the Partnership and its sole asset is an approximate 14 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, (NYSE: ENB) (TSX: ENB) is the general partner and holds an approximate 24 percent interest in the Partnership.

LEGAL NOTICE

This news release includes forward-looking statements and projections, which are statements that do not relate strictly to historical or current facts. These statements frequently use the following words, variations thereon or comparable terminology: “anticipate,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “position,” “projection,” “strategy” or “will.” Forward-looking statements involve risks, uncertainties and assumptions and are not guarantees of performance. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond Enbridge Partners’ ability to control or predict. Specific factors that could cause actual results to differ from those in the forward-looking statements include: (1) changes in the demand for or the supply of, forecast data for, and price trends related to crude oil, liquid petroleum, natural gas and NGLs, including the rate of development of the Alberta Oil Sands; (2) Enbridge Partners’ ability to successfully complete and finance expansion projects; (3) the effects of competition, in particular, by other pipeline systems; (4) shut-downs or cutbacks at facilities of Enbridge Partners or refineries, petrochemical plants, utilities or other businesses for which Enbridge Partners transports products or to whom Enbridge Partners sells products; (5) hazards and operating risks that may not be covered fully by insurance; (6) changes in or challenges to Enbridge Partners’ tariff rates; (7) changes in laws or regulations to which Enbridge Partners is subject, including compliance with environmental and operational safety regulations that may increase costs of system integrity testing and maintenance.

Reference should also be made to Enbridge Partners’ filings with the U.S. Securities and Exchange Commission; including its Annual Report on Form 10-K for the most recently completed fiscal year and its subsequently filed Quarterly Reports on Form 10-Q, for additional factors that may affect results. These filings are available to the public over the Internet at the SEC’s web site (www.sec.gov) and at the Partnership’s web site.


Investor Relations Contact:

Sanjay Lad

Toll-free: (866) EEP INFO or (866) 337-4636

E-mail: eep@enbridge.com

  

Media Contact:

Terri Larson

Telephone: (713) 353-6317

E-mail: usmedia@enbridge.com

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