El Paso buys €527.876 million 5¾% euro notes in tender

New York, March 2 - El Paso Corp. said it bought €527.876 million of its €550 million of 5¾% notes due 2006 under its tender offer for the securities.

Following the transaction, €22.124 million of the notes remain outstanding.

El Paso previously said on Feb. 9 that it had set pricing in the cash tender offer for the notes.

The company said it would pay €1,032.95 per €1,000 principal amount, based on a spread of 25 basis points over the benchmark rate.

The tender, announced on Jan. 26, expired at 11 a.m. ET on Feb. 25.

The dealer manager is Bayerische Hypo- und Vereinsbank AG (+49 89 378 15890 or +33 1 42 13 7836). The tender agent is Citibank, NA (+44 20 7508 3867 or +352 26 96 2549 or 2572).

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