Colorado Interstate Gas Company Announces Expiration and Final Results of Its Cash Tender Offer to Purchase up to $125 Million o
December 28 2007 - 9:00AM
PR Newswire (US)
HOUSTON, Dec. 28 /PRNewswire-FirstCall/ -- Colorado Interstate Gas
Company (CIG), 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 up to $125
million aggregate principal amount of its 5.95-percent Senior Notes
due March 15, 2015 (CUSIP No. 196522AH9). The tender offer expired
at 12:00 midnight, Eastern Time, on December 27, 2007. $183,525,000
in aggregate principal amount of notes were validly tendered in the
tender offer. Because this amount exceeded the tender cap of $125
million, the amount of notes accepted for purchase was prorated
among tendering holders in accordance with the terms of the Offer
to Purchase dated November 29, 2007. The proration factor applied
was approximately 68.1-percent (rounded down to the nearest $1,000
of principal amount for each tendering holder). CIG expects
settlement of the tender offer to occur today. 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. CIG is a Delaware general partnership, originally formed as
a corporation in 1927, and a majority owned subsidiary of El Paso
Corporation. Its primary business consists of the interstate
transportation, storage and processing of natural gas. CIG conducts
its business activities through its Colorado Interstate gas system,
its 50% equity interest in WYCO Development LLC, and gas storage
and processing 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 CIG 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 CIG '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, CIG 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 CIG's Annual and Quarterly Reports on Forms 10-K
and 10-Q and in the other documents CIG 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 CIG
or on CIG'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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