By Devika Patel
Knoxville, Tenn., March 9 – Transcontinental Gas Pipe Line Co. LLC priced a $1 billion offering of fixed-rate senior notes in two tranches on Thursday, according a press release.
The company sold $400 million of 10-year 4% notes at 99.446 to yield 4.068%.
It also priced $600 million of 30-year 4.6% notes at 99.276 to yield 4.645%.
Proceeds will be to repay debt, including Transco’s $250 million of 6.05% senior notes due 2018 upon their maturity on June 15, 2018, and for general corporate purposes.
The interstate natural gas transmission company and subsidiary of Williams Partners LP is based in Tulsa, Okla.
| Issuer: | Transcontinental Gas Pipe Line Co. LLC
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| Amount: | $1 billion
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| Description: | Senior notes
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| Ratings: | S&P: BBB
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| Trade date: | March 8
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| Settlement date: | March 15
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| Distribution: | Rule 144A
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|
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| Ten-year notes
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| Amount: | $400 million
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| Maturity: | 2028
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| Coupon: | 4%
|
| Price: | 99.446
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| Yield: | 4.068%
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|
|
| Thirty-year notes
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| Amount: | $600 million
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| Maturity: | 2048
|
| Coupon: | 4.6%
|
| Price: | 99.276
|
| Yield: | 4.645%
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