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Boardwalk Prices $300 Million Offering Of Senior Notes

Boardwalk Pipeline Partners, LP (NYSE:BWP) today announced that its wholly-owned subsidiary, Boardwalk Pipelines, LP (“Boardwalk”), has priced a public offering of $300 million aggregate principal amount of 3.375% senior notes due February 1, 2023. Boardwalk expects the offering to close on November 8, 2012.

Boardwalk intends to use the net proceeds from the offering of approximately $297.5 million to repay all indebtedness outstanding under its subordinated loan agreement with Boardwalk Pipelines Holding Corp., a wholly-owned subsidiary of Loews Corporation and the parent of its general partner, and to reduce outstanding borrowings under its revolving credit facility.

Barclays, Citigroup and Deutsche Bank Securities are acting as joint book-running managers for the offering. A copy of the final prospectus supplement relating to this offering, when available, may be obtained from any of the underwriters, including:

  • Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717. By telephone at (888) 603-5847 or by email at barclaysprospectus@broadridge.com;
  • Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717. By telephone at (800) 831-9146 or by email at batprospectusdept@citi.com; or
  • Deutsche Bank Securities, Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836. By telephone at (800) 503-4611 or by email at prospectus.CPDG@db.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offer is being made only through the prospectus supplement and accompanying base prospectus, which is part of a registration statement that became effective on April 29, 2010.

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