Boardwalk Pipelines intends to tap 4.95% senior notes due 2024

By Aleesia Forni

Virginia Beach, March 10 – Boardwalk Pipelines LP is planning an add-on to its existing 4.95% senior notes due Dec. 15, 2024, according to a 424B5 filed with the Securities and Exchange Commission.

The original $350 million issue priced with a spread of Treasuries plus 275 basis points on Nov. 19.

Barclays and J.P. Morgan Securities LLC are the bookrunners.

The notes are guaranteed by Boardwalk Pipeline Partners LP.

Proceeds will be used to retire a portion of the outstanding $250 million of subsidiary Texas Gas Transmission LLC’s 4.6% notes due 2015.

The natural gas and liquids pipeline and storage company is based in Houston.

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