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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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