El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced that it plans to sell 14,000,000 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 to the underwriters a 30-day option to purchase up to 2,100,000 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, Barclays Capital, Citi, Credit Suisse and Wells Fargo Securities will act as joint book-running managers of the offering. Goldman, Sachs & Co., UBS Investment Bank, Deutsche Bank Securities 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 underwriters, including:
Morgan Stanley & Co. Incorporated Attn: Prospectus Department 180 Varick Street, 2nd floor New York, NY 10014 Email: [email protected] Toll-free number: 866-718-1649
BofA Merrill Lynch Attn: Prospectus Department 4 World Financial Center New York, NY 10080 Email: [email protected]
Barclays Capital Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Email: [email protected] 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: [email protected] 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: [email protected]
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.
