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El Paso Pipeline Partners to pay down revolver via offering proceeds
By Ashley Montgomery
Kansas City, Kan., Nov. 1 - El Paso Pipeline Partners Operating Co., LLC plans to use the proceeds from its planned offering of senior notes due 2042 to repay borrowings under its revolving credit facility, according to a filing with the Securities and Exchange Commission.
The company said it owed $470 million under the revolver as of Oct. 30. The revolver matures on May 27, 2016.
Proceeds from the offering will also be used for general partnership purposes.
El Paso Pipeline is a Houston-based natural gas provider. The issuer is a wholly owned operating subsidiary of El Paso Pipeline Partners, LP.
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