Columbia Pipeline Partners LP, a NiSource Inc. (NYSE: NI) company, announced Feb. 5 the pricing of its IPO of 46.8 million common units at $23 per unit.

The underwriters have also been granted a 30-day option to purchase up to an additional 7 million units.

The common units are expected to begin trading on the New York Stock Exchange on Feb. 6 under the symbol “CPPL.” The offering is scheduled to close on Feb. 11, subject to the satisfaction of customary closing conditions.

At closing of the offering, the public will own about 50% of the limited partner interest in the partnership (or about 53.5% of the limited partner interest if the underwriters exercise in full their option to purchase additional common units).

Columbia Energy Group will own the remaining 50% limited partner interest (or about 46.5% of the limited partner interest if the underwriters exercise in full their option to purchase additional common units), the partnership’s general partner and the partnership’s incentive distribution rights.

Barclays and Citigroup are joint book-running managers and structuring agents. BofA Merrill Lynch, Goldman, Sachs & Co., J.P Morgan, Morgan Stanley and Wells Fargo Securities are also joint book-running managers. BNP PARIBAS, Credit Suisse, RBC Capital Markets, Fifth Third Securities, KeyBanc Capital Markets, MUFG, Mizuho Securities, Scotia Howard Weil and Huntington Investment Co. are co-managers

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission and declared effective.