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El Paso to complete remarketing of 6.14% notes due 2007 via CSFB on Tuesday
By Paul A. Harris
St. Louis, June 27 - El Paso Corp. plans to complete the remarketing of its 6.14% senior unsecured notes due Aug. 16, 2007 on Tuesday via Credit Suisse First Boston, according to an informed source.
The notes are talked in a range from 7 5/8% at 101.714 to yield 7.203% to 7 7/8% at 101.714 to yield 7.465%.
Proceeds will be used to facilitate the issuance of El Paso stock in 2005 pursuant to terms of the company's 9% mandatory convertible securities issued in June 2002; the equity contract settles Aug. 16, 2005. El Paso Corp. will receive no proceeds.
El Paso is a Houston-based diversified oil and gas utility.
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