Columbia Pipeline Group Inc. will offer $2.75 billion, in aggregate principal amount, of senior unsecured notes in a private placement, the company said May 19.

The notes will be issued in separate series.

Net proceeds will pay about $1.02 billion in intercompany debt between Columbia and parent company NiSource Inc., and also will pay NiSource a specific dividend tied to Columbia’s planned separation from it. Remaining proceeds will support general corporate purposes.

Columbia Pipeline Group Inc. is based in Houston.

NiSource Inc. is based in Merrillville, Ind.