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El Paso Corporation: El Paso Pipeline Partners Announces Exercise of Underwriters' Option to Purchase Additional Common Units

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^{Published in Business and Finance on Tuesday, June 30th 2009 at 13:24 GMT, Last Modified on 2009-06-30 13:25:07 by Market Wire}  

HOUSTON, TX--(Marketwire - June 30, 2009) - El Paso Pipeline Partners, L.P. (NYSE: [ EPB ]) today announced that the underwriters of its common unit offering exercised in full their option to purchase 1,650,000 additional common units at $17.50 per unit. The option was granted in connection with the partnership's public offering of 11,000,000 common units, which was completed on June 15, 2009. The closing of the over-allotment option is expected to occur on July 1, 2009. Total net proceeds from the offering of the 12,650,000 common units, including the general partner's proportionate capital contribution, are approximately $216.5 million and will be used by El Paso Pipeline Partners for general partnership purposes, including potential future acquisitions and growth capital expenditures. Pending the use of the proceeds for other purposes, the partnership may apply some or all of the net proceeds to reduce outstanding borrowings under its revolving credit facility.

Morgan Stanley & Co. Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc. and UBS Securities LLC acted as joint book-running managers of the offering. Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Raymond James & Associates, Inc. acted as co-managing underwriters of the offering. A copy of the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from any of the underwriters, including:

 Morgan Stanley & Co. Incorporated Attn: Prospectus Department 180 Varick Street, 2nd Floor New York, NY 10014 Email: [ prospectus@morganstanley.com ] Telephone: 866-718-1649 Barclays Capital Inc. c/o Broadridge, Integrated Distribution Services 1155 Long Island Avenue Edgewood, NY 11717 Email: [ Barclaysprospectus@broadridge.com ] Telephone: 888-603-5847 Citigroup Global Markets Inc. Attn: Prospectus Department Brooklyn Army Terminal 140 58th Street, 8th Floor Brooklyn, NY 11220 Email: [ batprospectusdept@citi.com ] Telephone: 800-831-9146 UBS Securities LLC Attn: Prospectus Dept. 299 Park Avenue New York, NY 10171 Telephone: 888-827-7275 

You may also obtain these documents for free when they are available by visiting IDEA on the Securities and Exchange Commission's (SEC) Web site at [ www.sec.gov ].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

El Paso Pipeline Partners is a Delaware limited partnership formed by El Paso Corporation to own and operate natural gas transportation pipelines and storage assets. El Paso Pipeline Partners owns Wyoming Interstate Company, an interstate pipeline system serving the Rocky Mountain region, a 40 percent general partner interest in Colorado Interstate Gas Company, which operates in the Rocky Mountain region, and a 25 percent general partner interest in Southern Natural Gas Company, which operates in the southeastern region of the United States. For more information about El Paso Pipeline Partners, visit [ www.eppipelinepartners.com ].

Cautionary Statement Regarding Forward-Looking Statements

Statements about the offering may be forward-looking statements as defined under federal law. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of El Paso Pipeline Partners, and a variety of risks that could cause results to differ materially from those expected by the management of El Paso Pipeline Partners. El Paso Pipeline Partners undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

Note to Non-United States Investors

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent of El Paso Pipeline Partners' distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, El Paso Pipeline Partners' distributions to Non-United States investors are subject to federal income tax withholding at the highest applicable effective tax rate.