Boardwalk Pipeline to repay revolver borrowings with note proceeds

By Marisa Wong

Madison, Wis., Nov. 24 – Boardwalk Pipeline Partners, LP’s wholly owned subsidiary, Boardwalk Pipelines, LP, plans to reduce outstanding borrowings under its revolving credit facility using proceeds from its offering of 4.95% senior notes due 2024, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds from the notes offering will also be used to retire all $275 million of Gulf South Pipeline Co., LP’s outstanding 5.05% notes due 2015. Gulf South is another subsidiary of Boardwalk Pipeline Partners.

The natural gas and liquids pipeline and storage companies are based in Houston.

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