Southern Natural Gas Company Announces Expiration and Final Results of Its Cash Tender Offer to Purchase Its 6.125-percent Notes
December 28 2007 - 9:00AM
PR Newswire (US)
HOUSTON, Dec. 28 /PRNewswire-FirstCall/ -- Southern Natural Gas
Company (SNG), a majority owned subsidiary of El Paso Corporation
(NYSE:EP), announced the expiration and final results of its
previously announced cash tender offer to purchase any and all of
its outstanding 6.125-percent Notes due September 15, 2008 (CUSIP
No. 843452AX1). The tender offer expired at 12:00 midnight, New
York City time, on December 27, 2007. $66,015,000 in aggregate
principal amount of notes were validly tendered and accepted for
purchase by SNG on the initial settlement date, and no additional
notes were tendered prior to the expiration date. Merrill Lynch
& Co. and J.P. Morgan Securities Inc. served as the dealer
managers for the tender offer and Global Bondholders Services
Corporation served as the depositary and information agent for the
tender offer. SNG is a Delaware general partnership, originally
formed as a corporation in 1935, and a majority owned subsidiary of
El Paso Corporation. Its primary business consists of the
interstate transportation and storage of natural gas. SNG conducts
its business activities through its Southern Natural Gas pipeline
system and related storage facilities. El Paso Corporation provides
natural gas and related energy products in a safe, efficient,
dependable manner. El Paso Corporation owns North America's largest
interstate natural gas pipeline system and one of North America's
largest independent natural gas producers. For more information,
visit http://www.elpaso.com/. Cautionary Statement Regarding
Forward-Looking Statements This release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All forward-looking statements are based on
assumptions that SNG believes to be reasonable. However, actual
results almost always vary from assumed facts and the differences
can be material, depending upon the circumstances. As a result, you
should not place undue reliance on such forward-looking statements.
The words "believe," "expect," "estimate," "anticipate" and similar
expressions will generally identify forward-looking statements. All
of SNG's forward-looking statements, whether written or oral, are
expressly qualified by these cautionary statements and any other
cautionary statements that may accompany such forward-looking
statements. In addition, SNG disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after
the date of this release. With this in mind, you should consider
the risks discussed in the Offer to Purchase, under the caption
"Risk Factors" in SNG's Annual and Quarterly Reports on Forms 10-K
and 10-Q and in the other documents SNG files with the SEC from
time to time, which could cause actual results to differ materially
from those expressed in any forward-looking statement made by SNG
or on SNG's behalf. DATASOURCE: El Paso Corporation CONTACT:
Investor-Media Relations, Bruce L. Connery, Vice President,
+1-713-420-5855, Fax, +1-713-420-4417, or Media Relations, Bill
Baerg, Manager, +1-713-420-2906, Fax, +1-713-420-4417, both of El
Paso Corporation Web site: http://www.elpaso.com/
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