El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
15-Sep-2010
El Paso Pipeline Partners Announces Pricing of Public Offering of Common UnitsHOUSTON, TX, Sep 15, 2010 (MARKETWIRE via COMTEX) -- El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced it has
priced a public offering of 11,500,000 common units at $31.95 per
common unit. Net proceeds from the offering, including the general
partner's proportionate capital contribution, will be used by El Paso
Pipeline Partners 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.
The offering is scheduled to close September 20, 2010. El Paso
Pipeline Partners also granted the underwriters a 30-day option to
purchase up to an aggregate of 1,725,000 additional common units.
Morgan Stanley, BofA Merrill Lynch, Credit Suisse, Goldman Sachs &
Co., UBS Investment Bank, and Wells Fargo Securities are acting as
joint book-running managers of the offering. Barclays Capital,
Deutsche Bank Securities, J.P. Morgan, and RBC Capital Markets are
acting as co-managing underwriters of the offering. A copy of the
prospectus supplement and accompanying base prospectus relating to
the offering may be obtained from any of the underwriters, including:
Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd
floor
New York, NY 10014
Email: prospectus@morganstanley.com
Phone:
866-718-1649
BofA Merrill Lynch
Attn: Prospectus Department
4 World Financial
Center
New York, NY 10080
Email Prospectus:
dg.prospectus_requests@baml.com
Credit Suisse Securities (USA) LLC
Attn: Prospectus Dept.
One
Madison Avenue
New York, NY 10010
Phone: 800-221-1037
Goldman, Sachs & Co.
Prospectus Department
200 West Street
New
York, NY 10282
Facsimile: 212-902-9316
Email:
prospectus-ny@ny.email.gs.com
Phone: 866-471-2526
UBS Investment Bank
Prospectus Dept.
299 Park Ave.
New York, NY
10171
Phone: 888-827-7275
Wells Fargo Securities
Attention: Equity Syndicate Dept.
375 Park
Ave.
New York, NY 10152
Email: equity.syndicate@wellsfargo.com
Phone: 800-326-5897
You may also obtain these documents for free when they are available
by visiting the Securities and Exchange Commission'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
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
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
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.
Contact:
Investor-Media Relations
Bruce Connery
Vice President
(713) 420-5855
Investor-Media Relations
Bill Baerg
Manager
(713) 420-2906
SOURCE: El Paso Pipeline Partners
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