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Article: El Paso Corporation Announces Pricing of Public Offering of $375 Million of 6.875% Senior Notes Due 2014 and $900 Million of 7.000% Senior Notes Due 2017.
- Article from:
- PR Newswire
- Article date:
- June 14, 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 14 /PRNewswire-FirstCall/ -- El Paso Corporation (El Paso or the Company), announced today that it has priced its public offering of $375 million of senior notes due June 15, 2014, with a coupon of 6.875 percent and $900 million of senior notes due June 15, 2017, with a coupon of 7.000 percent. El Paso expects closing to occur on June 18, 2007. The notes are being offered under El Paso's shelf registration statement.
Net proceeds from the offering will be approximately $1.256 billion. El Paso plans to use the net proceeds of the notes to fund the purchase by El Paso's subsidiary, El Paso Exploration & Production Company (EPEP), of any and all of ...