El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
21-Jun-2010
El Paso Pipeline Partners Announces $100 Million Senior Notes Offering Due 2020HOUSTON, TX, Jun 21, 2010 (MARKETWIRE via COMTEX) --El Paso Pipeline Partners Operating Company, L.L.C., a wholly owned
operating subsidiary of El Paso Pipeline Partners, L.P. (NYSE: EPB),
today announced that it plans to issue $100 million of senior notes
through a reopening of its 6.50 percent senior notes due April 1,
2020. The debt offering is being made pursuant to an effective shelf
registration statement on Form S-3 filed with the Securities and
Exchange Commission (SEC). The partnership intends to use the net
proceeds from the offering as partial consideration for the pending
acquisition of an additional 16 percent general partner interest in
Southern Natural Gas Company from El Paso Corporation (NYSE: EP).
RBS Securities Inc. is acting as the sole book-running manager of the
offering. A copy of the preliminary prospectus supplement and
accompanying base prospectus relating to this offering may be
obtained from RBS Securities Inc., 600 Washington Boulevard Stamford,
CT 06901 Attn: Debt Syndicate Telephone: 1-866-884-2071.
You may also obtain these documents for free when they are available
by visiting the SEC's Web site at www.sec.gov.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. The offering may be made only
by means of a prospectus and related prospectus supplement meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended.
El Paso Pipeline Partners, L.P. is a Delaware limited partnership
formed by El Paso Corporation to own and operate natural gas
transportation pipelines and storage assets.
El Paso Corporation owns approximately 62 percent of the limited
partner units, prior to the effect of the previously announced public
offering of 10 million common units, and the 2 percent general
partner interest. El Paso Pipeline Partners, L.P. owns Wyoming
Interstate Company, L.L.C., an interstate pipeline system serving the
Rocky Mountain region, a 58 percent interest in Colorado Interstate
Gas Company, which operates in the Rocky Mountain region, a 51
percent interest in Southern LNG Company, L.L.C., which owns the Elba
Island LNG storage and regasification terminal near Savannah,
Georgia, a 51 percent interest in El Paso Elba Express Company,
L.L.C., and a 25 percent interest in Southern Natural Gas Company
prior to the effect of the previously announced transaction. Both El
Paso Elba Express Company, L.L.C. and Southern Natural Gas Company
are interstate pipeline systems serving the southeastern region of
the United States.
Cautionary Statement Regarding Forward-Looking Statements
Statements about the offering may be forward-looking statements as
defined under federal law. These forward-looking statements rely on a
number of assumptions concerning future events and are subject to a
number of uncertainties and factors, many of which are outside the
control of El Paso Pipeline Partners, and a variety of risks that
could cause results to differ materially from those expected by the
management of El Paso Pipeline Partners. El Paso Pipeline Partners
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time.
Contacts:
Investor and Media Relations
Bruce Connery
Vice President
(713) 420-5855
Media Relations
Bill Baerg
Manager
(713) 420-2906
SOURCE: El Paso Pipeline Partners
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