El Paso Natural Gas $350 million seven-year notes talked at 7¼%-7½%, pricing Wednesday

By Paul A. Harris

St. Louis, July 15 - Price talk is 7¼%-7½% on El Paso Natural Gas' offering of $350 million notes due 2010, according to informed sources.

The quick-to-market deal is expected to price on Wednesday, the sources added.

Citigroup and Credit Suisse First Boston are joint bookrunners on the Rule 144A/Regulation S offering.

Proceeds from the seven-year non-call-four notes will be used to fund the Western power settlement.

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