Gulf South to repay borrowings under revolver with note proceeds

By Tali David

Minneapolis, June 7 - Gulf South Pipeline Co., LP plans to repay all of its borrowings outstanding under its revolving credit facility with the proceeds from a $300 million offering of senior notes, according to a press release.

The remainder of the proceeds will be advanced or distributed to affiliates of Gulf South to repay additional credit facility borrowings or used for general business purposes, which may include retirement of other long-term debt, the company said.

Gulf South, a subsidiary of Boardwalk Pipeline Partners, LP, does interstate transport and storage of natural gas. It is based in Houston.

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