Boardwalk Pipeline Partners, LP (BWP) today announced that its wholly-owned subsidiary, Boardwalk Pipelines, LP (“Boardwalk”), has priced a public offering of $500 million aggregate principal amount of 4.450% senior notes due 2027. Boardwalk expects the offering to close on January 12, 2017, subject to customary closing conditions.

Boardwalk intends to use the net proceeds of approximately $494.1 million from this offering (after deducting the underwriting discount and estimated offering expenses) for general partnership purposes, which may include, among other things, growth capital expenditures, repayment of future maturities of long-term debt and additions to working capital. Pending such use, Boardwalk intends to temporarily use the proceeds to reduce borrowings under its revolving credit facility.

Barclays, Mizuho Securities, MUFG, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, J.P. Morgan and RBC Capital Markets are acting as joint book-running managers for the offering. BofA Merrill Lynch, Regions Securities LLC, Santander, US Bancorp, BB&T Capital Markets, Goldman, Sachs & Co. and Morgan Stanley are acting as co-managers for the offering.


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