El Paso Pipeline Partners, L.P. 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.
Source: El Paso Pipeline Partners, May 13, 2011;
Source: http://www.lngworldnews.com/el-paso-pipeline-partners-prices-public-offering-usa/
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