El Paso Corp. to sell $272 million two-year notes this week

By Paul A. Harris

St. Louis, May 9 - El Paso Corp. plans to hold an investor conference call at noon ET on Tuesday for a $272 million offering of two-year senior unsecured notes (existing ratings Caa1/CCC+), according to market sources.

Pricing is expected to take place late in the present week.

Credit Suisse First Boston has the books for the Rule 144A/Regulation S offering.

Proceeds will be used to facilitate issuance of El Paso stock in August pursuant to terms of the company's 9% mandatory convertible securities issued in June 2002.

El Paso Corp. is a Houston-based diversified oil and gas utility.

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