El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
10-Apr-2007
Southern Natural Gas Company Announces Expiration and Final Results of Cash Tender Offer for Its 6.70% Notes Due October 1, 2007 HOUSTON, April 10 /PRNewswire-FirstCall/ -- Southern Natural Gas Company
(SNG), a wholly owned subsidiary of El Paso Corporation (NYSE: EP), announced
the expiration and final results of its previously announced cash tender offer
to purchase any and all of its outstanding 6.70% Notes due October 1, 2007
(CUSIP No. 843452AW3). The tender offer expired at 12:00 midnight, New York
City time, on April 9, 2007. $51,945,000 in aggregate principal amount of
notes were validly tendered and accepted for purchase by SNG on the early
settlement date, which was March 27, 2007, and there were no additional
tenders after the early tender date.
Citigroup Corporate and Investment Banking served as dealer manager for
the tender offer and Global Bondholders Services Corporation served as the
depositary and information agent for the tender offer.
SNG is a Delaware corporation incorporated in 1935, and a wholly owned
subsidiary of El Paso Corporation. Its primary business consists of the
interstate transportation and storage of natural gas and LNG terminalling
operations. SNG conducts its business activities through its natural gas
pipeline systems, which include its Southern Natural Gas pipeline system and
its 50 percent indirect interest in the Florida Gas Transmission pipeline
system, an LNG receiving terminal and storage facilities.
El Paso Corporation provides natural gas and related energy products in a
safe, efficient, 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. For more information, visit
http://www.elpaso.com .
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 SNG 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 SNG'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, SNG 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 in the Offer to
Purchase, under the caption "Risk Factors" in SNG's Annual and Quarterly
Reports on Forms 10-K and 10-Q and in the other documents SNG 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 SNG or on SNG's
behalf.
SOURCE El Paso Corporation
04/10/2007
CONTACT: investor relations, Bruce Connery, Vice President,
+1-713-420-5855, or media relations, Bill Baerg, Manager, +1-713-420-2906,
both of El Paso Corporation
3397 04/10/2007 17:47 EDT http://www.prnewswire.com
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