SOURCE: El Paso Pipeline Partners

El Paso Pipeline Partners

January 20, 2010 16:39 ET

El Paso Pipeline Partners Announces Exercise of Underwriters' Option to Purchase Additional Common Units

HOUSTON, TX--(Marketwire - January 20, 2010) - El Paso Pipeline Partners, L.P. (NYSE: EPB) announced that the underwriters of its common unit offering exercised their option to purchase 1,112,500 additional common units at a public offering price of $24.48 per unit. The option was granted in connection with the partnership's public offering of 8,750,000 common units, which was completed on January 19, 2010. The closing of the over-allotment option is expected to occur on January 22, 2010. Total net proceeds from the offering of the 9,862,500 common units, including the general partner's proportionate capital contribution, are approximately $236.1 million and will be used by El Paso Pipeline Partners for general partnership purposes, including potential future acquisitions and growth capital expenditures.

Citi, BofA Merrill Lynch, Barclays Capital, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers of the offering. Goldman, Sachs & Co., J.P. Morgan and Morgan Stanley acted as co-managing underwriters of the offering. A copy of the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from any of the underwriters, including:

Citigroup Global Markets Inc.
Attn: Prospectus Department
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, NY 11220
Email: batprospectusdept@citi.com
Telephone: 800-831-9146

Merrill Lynch, Pierce, Fenner & Smith Incorporated
Attn: Prospectus Department
4 World Financial Center
New York, NY 10080
Email: Prospectus.Requests@ml.com

Barclays Capital Inc.
c/o Broadridge Integrated Distribution Services
1155 Long Island Avenue
Edgewood, NY 11717
Email: Barclaysprospectus@broadridge.com
Toll-free number: 1-888-603-5847

UBS Securities LLC
Prospectus Dept.
299 Park Ave.
New York, NY, 10171
Toll-free (888) 827-7275

Wells Fargo Securities, LLC
Attention: Equity Syndicate Dept.
375 Park Ave.
New York, NY, 10152
Toll-free number: (800) 326-5897
Email: equity.syndicate@wachovia.com

You may also obtain these documents for free when they are available by visiting IDEA on the Securities and Exchange Commission's (SEC) 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 is a Delaware limited partnership formed by El Paso Corporation to own and operate natural gas transportation pipelines and storage assets. El Paso Pipeline Partners owns Wyoming Interstate Company, an interstate pipeline system serving the Rocky Mountain region, a 58 percent general partner interest in Colorado Interstate Gas Company, which operates in the Rocky Mountain region, and a 25 percent general partner interest in Southern Natural Gas Company, which operates in the southeastern region of the United States. For more information about El Paso Pipeline Partners, visit www.eppipelinepartners.com.

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.

Note to Non-United States Investors

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent of El Paso Pipeline Partners' distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, El Paso Pipeline Partners' distributions to Non-United States investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contact Information

  • Contacts
    Investor & Media Relations
    Bruce Connery
    Vice President
    Office: (713) 420-5855

    Bill Baerg
    Manager
    Office: (713) 420-2906