Boardwalk Pipeline to redeem all $275 million Gulf South 5.05% notes

By Marisa Wong

Madison, Wis., Nov. 24 – Boardwalk Pipeline Partners, LP’s wholly owned subsidiary, Boardwalk Pipelines, LP, plans to retire all $275 million of Gulf South Pipeline Co., LP’s outstanding 5.05% notes due 2015.

Boardwalk Pipelines plans to retire the outstanding notes by Feb. 2, according to an 8-K filing with the Securities and Exchange Commission.

The redemption will be funded with proceeds from an offering of 4.95% senior notes due 2024. Remaining proceeds will be used to reduce outstanding borrowings under Boardwalk Pipelines’ revolving credit facility.

Gulf South is another subsidiary of Boardwalk Pipeline Partners. The natural gas and liquids pipeline and storage companies are based in Houston.

© 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.