El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
El Paso Corporation Announces Results of Offer to Repurchase Zero Coupon Convertible Debentures
HOUSTON, Feb. 28 /PRNewswire-FirstCall/ -- El Paso Corporation (NYSE: EP)
today announced the results of the offer to repurchase all of its outstanding
Zero Coupon Convertible Debentures due February 28, 2021 (the "Debentures").
The holders' right to surrender their Debentures for repurchase expired
immediately following 11:59 p.m., New York City time, on February 27, 2006.
Debentures in an aggregate principal amount at maturity of $1,092,398,000
were validly surrendered for repurchase. El Paso has accepted all these
Debentures for repurchase at a purchase price of $552.07 per $1,000 of
principal amount at maturity, for an aggregate purchase price of approximately
$603 million. After this purchase, approximately $21.9 million in aggregate
principal amount at maturity of Debentures remains outstanding.
El Paso will file a final Amendment to its Tender Offer Statement on
Schedule TO/A with the Securities and Exchange Commission to report the
results of the offer to repurchase the Debentures.
El Paso Corporation provides natural gas and related energy products in a
safe, efficient, and dependable manner. The company owns North America's
largest natural gas pipeline system and one of North America's largest
independent natural gas producers. For more information, visit
SOURCE El Paso Corporation
CONTACT: investor and public relations, Bruce L. Connery, Vice
President, +1-713-420-5855, or fax, +1-713-420-4417, or media relations, Bill
Baerg, Manager, +1-713-420-2906, or fax, +1-713-420-4417, both of El Paso
5059 02/28/2006 13:06 EST http://www.prnewswire.com