Boardwalk Announces Exercise of Option by Underwriters to Purchase Additional Common Units

Boardwalk Announces Exercise of Option by Underwriters to Purchase Additional Common Units | Bild: © ad-hoc-news

The total net proceeds from the offering of 9,200,000 common units, after deducting offering expenses, will be approximately $250.2 million in the aggregate, including the general partner's proportionate capital contribution of approximately $5.2 million. The Partnership expects to use the net proceeds from the offering, together with amounts to be contributed by its general partner to maintain its 2% general partner interest, to repay borrowings outstanding under the Partnership?s revolving credit facility, but the Partnership may use some or all of the proceeds for other general partnership purposes, which may include acquiring additional equity interests in Boardwalk HP Storage Company, LLC, a joint venture between the Partnership and Boardwalk Pipelines Holding Corp., an affiliate of the Partnership?s general partner.

Barclays Capital, BofA Merrill Lynch, Citigroup, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers for the common unit offering.

A copy of the prospectus relating to this offering may be obtained from:

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities 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 jurisdiction. The offer is being made only through the prospectus supplement and accompanying base prospectus, which is part of a registration statement that became effective on April 29, 2010.

Boardwalk Pipeline Partners, LP, is a limited partnership engaged, through its subsidiaries, in the transportation, storage and gathering of natural gas. Including the assets held under the Petal and Hattiesburg joint venture, the Partnership operates approximately 14,300 miles of pipeline and underground storage fields having aggregate working gas capacity of approximately 186 Bcf.

This press release contains forward-looking statements relating to expectations, plans or prospects for Boardwalk Pipeline Partners, LP and its subsidiaries. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the company's control and the risk factors and other cautionary statements discussed in Boardwalk's filings with the U.S. Securities and Exchange Commission.