El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
El Paso Pipeline Partners Announces Public Offering of Common Units
HOUSTON, TX, Sep 14, 2010 (MARKETWIRE via COMTEX) --
El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced that it
plans to sell 10,000,000 common units in an underwritten public
offering pursuant to an effective shelf registration statement on
Form S-3 previously filed with the Securities and Exchange Commission
(SEC). The partnership plans to grant the underwriters a 30-day
option to purchase up to 1,500,000 additional common units.
The partnership currently intends to use the net proceeds of this
offering, including the general partner's proportionate capital
contribution and any exercise of the underwriters' option to purchase
additional units, for general partnership purposes, including
potential future acquisitions and growth capital expenditures.
Pending the use of the proceeds for other purposes, the partnership
may apply some or all of the net proceeds to reduce outstanding
borrowings under its revolving credit facility.
Morgan Stanley, BofA Merrill Lynch, Credit Suisse, Goldman Sachs &
Co., UBS Investment Bank, and Wells Fargo Securities will act as
joint book-running managers of the offering. Barclays Capital,
Deutsche Bank Securities, J.P. Morgan, and RBC Capital Markets will
act as co-managing underwriters of the offering. A copy of the
preliminary prospectus supplement and accompanying base prospectus
relating to this offering may be obtained from any of the
Attn: Prospectus Department
180 Varick Street, 2nd
New York, NY 10014
BofA Merrill Lynch
Attn: Preliminary Prospectus Department
New York, NY 10080
Attn: Prospectus Dept.
One Madison Avenue
Goldman, Sachs & Co.
200 West Street
York, NY 10282
UBS Investment Bank
299 Park Ave.
New York, NY
Wells Fargo Securities
Attention: Equity Syndicate Dept.
New York, NY 10152
You may also obtain these documents for free when they are available
by visiting the SEC's Web site at www.sec.gov.
This press release shall not constitute an offer to sell or the
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 an 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
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
an approximate 57 percent limited partner interest and the 2 percent
general partner interest in the partnership. 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 45 percent interest in Southern
Natural Gas Company. 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
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.
SOURCE: El Paso Pipeline Partners