SOURCE: El Paso Pipeline Partners

El Paso Pipeline Partners

June 21, 2010 15:33 ET

El Paso Pipeline Partners Announces Pricing of $110 Million Debt Offering

HOUSTON, TX--(Marketwire - June 21, 2010) -  El Paso Pipeline Partners Operating Company, L.L.C., a wholly owned operating subsidiary of El Paso Pipeline Partners, L.P. (NYSE: EPB), today announced it has priced $110 million of its 6.50 percent senior notes due April 1, 2020, which notes are additional notes of the series originally issued by El Paso Pipeline Partners Operating Company, L.L.C. on March 30, 2010. Net proceeds from the offering will be used as partial consideration for the pending acquisition of an additional 16 percent general partner interest in Southern Natural Gas Company from El Paso Corporation (NYSE: EP).

RBS Securities Inc. is acting as the sole book-running manager of the offering. A copy of the prospectus supplement and prospectus relating to this offering may be obtained from RBS Securities Inc. 600 Washington Boulevard Stamford, CT 06901 Attn: Debt Syndicate Telephone: 1-866-884-2071

You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission's web site at www.sec.gov.

This news release does not constitute an offer to sell or a 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 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 owns approximately 62 percent of the limited partner units, prior to the effect of the previously announced public offering of 10 million common units, and the 2 percent general partner interest. El Paso Pipeline Partners, L.P. owns Wyoming Interstate Company, L.L.C., an interstate pipeline system serving the Rocky Mountain region, a 58 percent interest in Colorado Interstate Gas Company, which operates in the Rocky Mountain region, a 51 percent interest in Southern LNG Company, L.L.C., which owns the Elba Island LNG storage and regasification terminal near Savannah, Georgia, a 51 percent interest in El Paso Elba Express Company, L.L.C., and a 25 percent interest in Southern Natural Gas Company prior to the effect of the previously announced transaction. Both El Paso Elba Express Company, L.L.C. and Southern Natural Gas Company 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.

Contact Information

  • Contacts:

    Investor-Media Relations
    Bruce Connery
    Vice President
    (713) 420-5855

    Media Relations
    Bill Baerg
    Manager
    (713) 420-2906