El Paso Pursues $355M Private Placement
El Paso Natural Gas Company (EPNG), a subsidiary of El Paso Corporation, plans to issue $355 million of its unsecured senior notes in an offering under Rule 144A and Regulation S under the Securities Act of 1933.
EPNG plans to apply the net proceeds of the senior notes to the payment of the purchase price for any and all of the $355 million outstanding principal amount of its 7.625% Notes due 2010 tendered in the previously announced tender offer for those notes.
The senior notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933. This press release shall not constitute an offer to sell or a solicitation of any offer to buy such securities and is issued pursuant to Rule 135c under the Securities Act.
EPNG is a Delaware corporation incorporated in 1928 and a wholly owned subsidiary of El Paso Corporation. Its primary business consists of the interstate transportation and storage of natural gas. EPNG conducts its business activities through its natural gas pipeline systems and a storage facility.
El Paso Corporation provides natural gas and related energy products and owns North America's largest natural gas pipeline system and one of North America's largest independent natural gas producers.
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