El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
El Paso Corporation to Pursue $1.275 Billion Public Offering of Senior Notes
HOUSTON, June 13 /PRNewswire-FirstCall/ -- El Paso Corporation (NYSE: EP)
(El Paso), announced today that it plans to issue $1.275 billion of its
unsecured senior notes in a public offering. The notes are being offered
under El Paso's shelf registration statement.
El Paso plans to use the net proceeds from the sale of the notes to fund
the purchase by El Paso's subsidiary, El Paso Exploration & Production Company
(EPEP), of any and all of EPEP's $1.2 billion outstanding principal amount of
its 7 3/4 percent Senior Notes due 2013 tendered in the previously announced
tender offer and consent solicitation with respect to those notes and for
general corporate purposes.
El Paso's offering is being made only by means of a prospectus and related
prospectus supplement, a copy of which may be obtained from Deutsche Bank
Securities Inc. at 60 Wall Street, New York, New York 10005, (800) 503-4611.
This press release does not constitute an offer to sell or a solicitation
of any offer to buy such securities, nor shall there be any sale of these
securities in any state in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
El Paso Corporation provides natural gas and related energy products in a
safe, efficient, and dependable manner. El Paso Corporation owns North
America's largest natural gas pipeline system and one of North America's
largest independent natural gas producers.
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All forward-looking
statements are based on assumptions that El Paso believes to be reasonable.
However, actual results almost always vary from assumed facts and the
differences can be material, depending upon the circumstances. As a result,
you should not place undue reliance on such forward-looking statements. The
words "believe," "expect," "estimate," "anticipate" and similar expressions
will generally identify forward-looking statements. All of El Paso's forward-
looking statements, whether written or oral, are expressly qualified by these
cautionary statements and any other cautionary statements that may accompany
such forward-looking statements. In addition, El Paso disclaims any
obligation to update any forward-looking statements to reflect events or
circumstances after the date of this release.
With this in mind, you should consider the risks discussed under the
caption "Risk Factors" in the offering memorandum, El Paso's Annual and
Quarterly Reports on Forms 10-K and 10-Q and in the other documents El Paso
files with the SEC from time to time, which could cause actual results to
differ materially from those expressed in any forward-looking statement made
by El Paso or on El Paso's behalf.
SOURCE El Paso Corporation
CONTACT: Investor and public relations, Bruce L. Connery, Vice
President, +1-713-420-5855, fax, +1-713-420-4417, or media relations, Bill
Baerg, Manager, +1-713-420-2906, fax, +1-713-420-4417, both of El Paso
3469 06/13/2007 08:57 EDT http://www.prnewswire.com