El Paso plans $2 billion to $2.5 billion bonds for EP Energy spin-off

By Aleesia Forni

Columbus, Ohio, Sept. 27 - El Paso Corp.'s spin off of its exploration and production EP Energy will result in the sale of $2 billion to $2.25 billion of bonds in the upcoming months, according to senior vice president of operations John Jensen.

An unused $1 billion unused line of credit will give further flexibility, and Jensen expects the new company to have a "healthy credit profile."

"Our plan is moving along well toward separation," Jensen said.

"We have a lot of momentum, and our goal is still on track to separate by year-end."

El Paso is a Houston-based transporter of natural gas.

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