Energy Industry
Industry: Email Alert RSS FeedEL PASO ENERGY PARTNERS PRICES OFFERING OF THREE MILLION UNITS
Hart's Petroleum Finance Week, April, 2003
El Paso Energy Partners LP (NYSE: EPN) priced an offering of 3 million common units representing limited partner interests at a public offering price of $31.35 per unit. The offering was scheduled to close April 11.
The offering was managed by UBS Warburg, Citigroup and RBC Capital Markets. Proceeds will be used to reduce debt under the partnership's revolving credit facility, providing additional flexibility to fund its growth targets for the year. The underwriters were also granted an option to purchase up to 450,000 units to cover overallotments.
(Copyright 2003 Chemical Week Associates. All rights reserved.)
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