Transco prices senior notes
Published by Stephanie Roker,
Editor
World Pipelines,
Transcontinental Gas Pipe Line Company, LLC (Transco), a wholly owned subsidiary of Williams Partners L.P. announced that it has priced its previously announced offering of senior notes.
The US$1 billion in aggregate principal amount of senior notes due 2026, scheduled to be delivered on 22 January 2016, were priced with a 7.85% coupon and at an offering price of 99.825% of par, with a yield to investors of 7.875%.
Transco intends to use the net proceeds from the offering to repay indebtedness, including its US$200 million of 6.40% notes due 2016 upon their maturity on 15 April 2016, and to fund capital expenditures.
The notes will be offered pursuant to certain exemptions from registration under the Securities Act of 1933, as amended (Securities Act). The offering of the notes has not been registered under the Securities Act or applicable state securities laws. The notes may not be offered or sold in the US absent registration or an applicable exemption from such registration requirements.
Edited from source by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/20012016/transco-prices-senior-notes/
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