SOURCE: El Paso Pipeline Partners

El Paso Pipeline Partners

June 17, 2010 16:11 ET

El Paso Pipeline Partners Announces Public Offering of Common Units

HOUSTON, TX--(Marketwire - June 17, 2010) -  El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced that it plans to sell 10,000,000 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 the underwriters a 30-day option to purchase up to 1,500,000 additional common units. The partnership currently intends to use the net proceeds of this offering, including the general partner's proportionate capital contribution, 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). If the underwriters exercise their option to purchase additional units, the partnership intends to use the net proceeds as consideration for the purchase of an additional general partner interest in Southern Natural Gas Company from El Paso Corporation pursuant to the partnership's option to purchase up to an additional four percent of such interest and/or to reduce outstanding borrowings under its revolving credit facility.

Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co., Wells Fargo Securities, LLC, J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated will act as joint book-running managers of the offering. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets Corporation and UBS Securities LLC 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:

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 888-603-5847

BofA Merrill Lynch
Attn: Preliminary Prospectus Department
4 World Financial Center
New York, NY 10080
Email Prospectus:

Goldman, Sachs & Co.
Prospectus Department
200 West Street
New York, NY 10282
Facsimile: 212-902-9316
Telephone: 866-471-2526

Wachovia Capital Markets, LLC
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152
Telephone: 800-326-5897

J.P. Morgan Securities Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 866-803-9204

Morgan Stanley & Co. Incorporated
Attention: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: 866-718-1649

You may also obtain these documents for free when they are available by visiting the SEC's Web site at

This news 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 owns approximately 62 percent of the limited partner 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 announced acquisition. 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 and Media Relations
    Bruce L. Connery
    Vice President
    Office: (713) 420-5855

    Media Relations
    Bill J. Baerg
    (713) 420-2906