USA: El Paso Pipeline Partners Announces Public Offering of Common Units

El Paso Pipeline Partners, L.P. announced that it plans to sell 14,000,000 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 partnership plans to grant to the underwriters a 30-day option to purchase up to 2,100,000 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.

[mappress]

Source: El Paso Pipeline Partners, May 13, 2011;