September 8, 2009 (FinancialWire) — Enterprise Products Partners L.P. (NYSE: EPD) said it has entered into an agreement to sell 5,940,594 common units in a private placement to EPCO Holdings, Inc., which is controlled by Dan L. Duncan, for around $150 million, or $25.25 per unit.

The closing of the private placement is scheduled to occur on or about September 8.

Enterprise plans to use the net proceeds from this private placement to temporarily reduce borrowings outstanding under its multi-year revolving credit facility, and for other general partnership purposes.

Houston-based Enterprise Products Partners is a North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil and petrochemicals.

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