Columbia Pipeline Partners (ticker: CPPL) began trading on the New York Stock Exchange today following its spin-off from NiSource Partners (ticker: NI). Under terms of the spin-off, CPPL is transferred NI’s pipeline and storage assets, while NI retains ownership of its natural gas and electric utilities. The company priced 46,811,398 common units at $23.00 per unit, above the initial estimate of $19.00 to $21.00 per unit, raising more than $1.07 billion. A note by Baird Energy says the pricing of the notes translates to annualized distribution ...


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