El Paso to redeem all $300 million Coastal Finance I 8 3/8% preferreds

By Jennifer Chiou

New York, Jan. 10 - El Paso CGP Co., LLC (The Coastal Corp.) announced the redemption of all of subsidiary Coastal Finance I's $300 million 8 3/8% trust-originated preferred securities due 2038.

The redemption date is Feb. 8.

The company said it will redeem each preferred at $25.00 plus accrued interest.

The Bank of New York Trust Co., NA is paying agent.

The Houston natural gas provider is a subsidiary of El Paso Corp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.