SOURCE: El Paso Pipeline Partners

El Paso Pipeline Partners

May 13, 2011 08:27 ET

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

HOUSTON, TX--(Marketwire - May 13, 2011) - El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced it has priced a public offering of 14,000,000 common units at $34.51 per common unit. The Partnership has also granted the underwriters a 30-day option to purchase up to an aggregate of 2,100,000 additional common units. Net proceeds from the offering, including the general partner's proportionate capital contribution and any exercise of the underwriters' option to purchase additional units, 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 May 18, 2011.

Morgan Stanley, BofA Merrill Lynch, Barclays Capital, Citi, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers of the offering. Goldman, Sachs & Co., UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets are acting as co-managing underwriters of the offering.

A copy of the 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: prospectus@morganstanley.com
Toll-free number: 866-718-1649

BofA Merrill Lynch
Attn: Prospectus Department
4 World Financial Center
New York, NY 10080
Email: dg.prospectus_requests@baml.com

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Email: Barclaysprospectus@broadridge.com
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: batprospectusdept@citi.com
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: cmclientsupport@wellsfargo.com
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.

Contact Information

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

    Media Relations
    Bill Baerg
    Manager
    (713) 420-2906