Boardwalk Pipelines, the wholly owned subsidiary of Boardwalk Pipeline Partners LP (NYSE: BWP) said March 10 that it priced a public offering of an additional $250 million, in aggregate principal amount, of senior notes.
The 4.95% senior notes are due Dec. 15, 2024. They are in addition to $350 million, in aggregate principal amount, of the 4.95% notes due Nov. 26, 2024.
This offering is scheduled to close March 13, the company said.
About $247.1 million in net proceeds is expected, and they will reduce outstanding revolving credit facility borrowings.
Barclays, J.P. Morgan, Citigroup (NYSE: C), Deutsche Bank Securities Inc., MUFG and Wells Fargo Securities LLC are joint book-running managers. BB&T Capital Markets, BBVA, Fifth Third Securities, Goldman Sachs & Co. (NYSE: GS), Mizuho Securities, Morgan Stanley (NYSE: MS), PNC Capital Markets LLC, RBC Capital Markets and UBS Investment Bank are co-managers.
Houston-based Boardwalk Pipeline Partners LP is a domestic-focused midstream MLP.
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