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El Paso Pipeline Partners Announces Pricing of Public Offering of Common Units El Paso Pipeline Partners, L.P. announced in June that it had priced a public offering of 11,000,000 common units representing limited partner interests at $17.50 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 closed June 15, 2009. El Paso Pipeline Partners also granted the underwriters a 30-day option to purchase up to an aggregate of 1,650,000 additional common units. Morgan Stanley & Co. Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc. and UBS Securities LLC acted as joint book-running managers of the offering. Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Raymond James & Associates, Inc. acted as co-managing underwriters of the offering. |
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