El Paso files $3 billion debt, preferred, stock, units, trust preferred shelf

New York, Feb. 8 - El Paso Corp. filed a shelf registration with the Securities and Exchange Commission for $3 billion of debt securities, preferred stock, common stock, purchase contracts, warrants, units and trust preferred securities. The debt, preferred stock and trust preferred stock may be structured as convertibles.

The Houston, Texas energy company said it would use proceeds for general corporate purposes.

For the nine months to Sept. 30, 2001, El Paso's earnings were insufficient to cover charges by $432 million compared to an earnings to fixed charge ratio of 2.11 times for the same period of 2000.

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