SOURCE: El Paso Pipeline Partners

El Paso Pipeline Partners

June 09, 2009 18:37 ET

El Paso Pipeline Partners Announces Pricing of Public Offering of Common Units

HOUSTON, TX--(Marketwire - June 9, 2009) - El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced it has priced a public offering of 11,000,000 common units representing limited partner interests at $17.50 per common unit. Net proceeds from the offering, including the general partner's proportionate capital contribution, 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 June 15, 2009. El Paso Pipeline Partners also granted the underwriters a 30-day option to purchase up to an aggregate of 1,650,000 additional common units.

Morgan Stanley & Co. Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc. and UBS Securities LLC are acting as joint book-running managers of the offering. Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Raymond James & Associates, Inc. are acting as co-managing underwriters of the offering. A copy of the prospectus supplement and accompanying base prospectus relating to the 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
Telephone: 866-718-1649

Barclays Capital Inc.
c/o Broadridge, Integrated Distribution Services
1155 Long Island Avenue
Edgewood, NY 11717
Email: Barclaysprospectus@broadridge.com
Telephone: 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
Telephone: 800-831-9146

UBS Securities LLC
Attn: Prospectus Dept.
299 Park Avenue
New York, NY 10171
Telephone: 888-827-7275

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, 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 Pipeline Partners, L.P. owns Wyoming Interstate Company, an interstate pipeline system serving the Rocky Mountain region, a 40 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.

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

  • Contact:
    Investor-Media Relations
    Bill J. Baerg
    Manager
    (713) 420-2906