El Paso Pipeline Partners to Make Public Offering of Common Units
El Paso Pipeline Partners plans to sell 11,000,000 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.
The underwriters have been granted a 30-day option to purchase up to 1,650,000 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.
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