El Paso Pipeline Partners subsidiary to issue $425M senior notes due 2020

El Paso Pipeline unit to issue $425M senior notes

HOUSTON — A unit of El Paso Pipeline Partners LP said it plans to issue $425 million of senior notes due 2020.

El Paso Pipeline Partners Operating LLC said it intends to use the net proceeds from the offering to hep fund its acquisition of a 51 percent member interest in each of Southern LNG Co. LLC and El Paso Elba Express Co. LLC from El Paso Corp.

Shares of El Paso Pipeline Partners fell 17 cents to $27.82 in midday trading.