SOURCE: El Paso Pipeline Partners

El Paso Pipeline Partners

September 14, 2010 16:12 ET

El Paso Pipeline Partners Announces Public Offering of Common Units

HOUSTON, TX--(Marketwire - September 14, 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 and any exercise of the underwriters' option to purchase additional units, 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.

Morgan Stanley, BofA Merrill Lynch, Credit Suisse, Goldman Sachs & Co., UBS Investment Bank, and Wells Fargo Securities will act as joint book-running managers of the offering. Barclays Capital, Deutsche Bank Securities, J.P. Morgan, and RBC Capital Markets 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:

Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd floor
New York, NY 10014
Email: prospectus@morganstanley.com
Phone: 866-718-1649

BofA Merrill Lynch
Attn: Preliminary Prospectus Department
4 World Financial Center
New York, NY 10080
Email Prospectus: requests@ml.com

Credit Suisse
Attn: Prospectus Dept.
One Madison Avenue
New York, NY 10010
Telephone: 800-221-1037

Goldman, Sachs & Co.
Prospectus Department
200 West Street
New York, NY 10282
Facsimile: 212-902-9316
Email: prospectus-ny@ny.email.gs.com
Phone: 866-471-2526

UBS Investment Bank
Prospectus Dept. 
299 Park Ave. 
New York, NY 10171 
Phone: 888-827-7275 

Wells Fargo Securities 
Attention: Equity Syndicate Dept. 
375 Park Ave. 
New York, NY 10152 
Email: equity.syndicate@wellsfargo.com
Phone: 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 owns an approximate 57 percent limited partner interest and the 2 percent general partner interest in the partnership. 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 45 percent interest in Southern Natural Gas Company. 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

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

    Media Relations
    Bill Baerg
    Manager
    (713) 420-2906