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Article: El Paso Corporation to Pursue $1.275 Billion Public Offering of Senior Notes.
- Article from:
- PR Newswire
- Article date:
- June 13, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, June 13 /PRNewswire-FirstCall/ -- El Paso Corporation (El Paso), announced today that it plans to issue $1.275 billion of its unsecured senior notes in a public offering. The notes are being offered under El Paso's shelf registration statement.
El Paso plans to use the net proceeds from the sale of the notes to fund the purchase by El Paso's subsidiary, El Paso Exploration & Production Company (EPEP), of any and all of EPEP's $1.2 billion outstanding principal amount of its 7 3/4 percent Senior Notes due 2013 tendered in the previously announced tender offer and consent solicitation with respect to those notes and for general corporate purposes.
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