El Paso Pipeline Partners Announces Pricing of Public
Offering of Common Units
(MARKETWIRE via COMTEX) -- El Paso
Pipeline Partners, L.P. (NYSE: EPB) today announced it has priced a public
offering of 14,000,000 common units at $34.51 per common unit. The Partnership
has also granted the underwriters a 30-day option to purchase up to an
aggregate of 2,100,000 additional common units. Net proceeds from the offering,
including the general partner's proportionate capital contribution and any
exercise of the underwriters' option to purchase additional units, 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 May 18, 2011.
Morgan Stanley, BofA Merrill
Lynch, Barclays Capital, Citi, Credit Suisse and
Wells Fargo Securities are acting as joint book-running managers of the
offering. Goldman, Sachs & Co., UBS Investment Bank, Deutsche Bank
Securities 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 this offering may be obtained from any of the
underwriters, including:
Morgan Stanley & Co. Incorporated Attn: Prospectus
Department 180 Varick Street, 2nd floor New York, NY
10014 Email: prospectus@morganstanley.com Toll-free number: 866-718-1649
BofA
Merrill Lynch Attn: Prospectus Department 4 World Financial Center New York, NY
10080 Email: dg.prospectus_requests@baml.com
Barclays Capital Inc. c/o Broadridge
Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Email:
Barclaysprospectus@broadridge.com Toll-free number: 888-603-5847
Citigroup Global Markets Inc. Attn: Prospectus
Department
Brooklyn Army Terminal 140 58th Street, 8th Floor Brooklyn,
NY 11220 Email: batprospectusdept@citi.com Toll-free number: 877-858-5407
Credit Suisse Securities (USA) LLC Prospectus
Department One Madison Avenue, Level 1B New York, NY 10010 Toll-free number:
800-221-1037
Wells Fargo Securities, LLC Attn: Equity Syndicate
Dept. 375 Park Ave. New York, NY 10152 Email: cmclientsupport@wellsfargo.com
Toll-free number: 800-326-5897
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 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 currently owns
a 45 percent limited partner interest and 2 percent general partner interest in
the partnership. El Paso Pipeline Partners, L.P. owns Wyoming Interstate
Company, L.L.C. (WIC), Southern LNG Company, L.L.C. (SLNG), Elba Express
Company, L.L.C. (Elba Express), an 85 percent interest in Southern Natural Gas
Company (SNG), and a 58 percent interest in Colorado Interstate Gas Company
(CIG). WIC and CIG are interstate pipeline systems serving the Rocky Mountain
region, SLNG owns the Elba Island LNG storage and regasification
terminal near Savannah, Georgia, and both Elba Express and SNG 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