El Paso Pipeline Partners LP - 2011-06-02
Description
Southern Natural Gas Co. has reported that it, along with its wholly-owned subsidiary Southern Natural Issuing Corporation, has priced an offering of $300,000,000 in aggregate principal amount of their 4.40% notes due 2021. The notes will be issued at 99.911% of par to yield 4.411% to maturity. SNG expects the offering to close on June 7, 2011.
SNG plans to utilize the proceeds of the offering for growth capital expenditures and general partnership purposes.
SNG is indirectly owned 85% by El Paso Pipeline Partners LP (NYSE: EPB) and 15% by El Paso Corporation.