El Paso Pipeline Partners Prices Public Offering
El Paso Pipeline Partners has priced a public offering of 8,750,000 common units at $24.48 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 January 19, 2010. El Paso Pipeline Partners also granted the underwriters a 30-day option to purchase up to an aggregate of 1,312,500 additional common units.
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