BOSTON ( TheStreet) -- El Paso Pipeline Partners ( EPB) shares fell Wednesday after the natural gas pipeline company priced a $367 million offering of common units.
El Paso Pipeline said it has priced a public offering of 11.5 million common units at $31.95 per unit, below Tuesday's closing price of $. Underwriters have a 30-day option to purchase an additional 1.72 million units. El Paso Pipeline said net proceeds from the offering will be used for general corporate purposes, which includes potential future acquisitions and growth capital expenditures. Shares of El Paso Pipeline were down $1.17, or 3.5%, to $31.92. Share volume of 575,000 early in Wednesday's session outpaces the average daily share volume of 382,000. Elsewhere, StoneMor Partners ( STON) announced a public offering of 1.22 million common units representing limited partner interests in the cemetary operator. Underwriters have a 30-day option to buy up to 183,300 additional units to cover overallotments. StoneMor said any net proceeds will be used to prepay a portion of the borrowings outstanding under its existing acquisition credit facility and pay down a portion of the borrowings outstanding under its existing revolving credit facility. StoneMor shares slumped by $1.33, or 5.1%, to $24.54. Apollo Commercial Real Estate Finance ( ARI) said it is planning a common stock offering of 6 million shares. Underwriters will have a 30-day option to buy an additional 900,000 shares to cover overallotments. Net proceeds will be used to pay back debt and for investments in assets, including commercial mortgage-backed securities. Shares of Apollo Commercial were down 68 cents, or 3.9%, to $16.72. Anglogold Ashanti ( AU) said it is offering approximately 15.8 million shares, with an additional 2.3 million set aside to cover overallotments, priced at $43.50 each. Anglogold said it expects gross proceeds of $686 million before the overallotment option is exercised. Anglogold said it is also offering mandatory convertible notes in addition to the equity offering. Shares of Anglogold were down $2.76, or 5.9%, to $43.96. In other stock offering news, NextEra Energy ( NEE) said it will sell $350 million of equity units to Credit Suisse Securities. NextEra shares were lower by $1.46, or 2.7%, to $53.56. -- Written by Robert Holmes in Boston. >To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.