Questar Gas launches $150 million of notes in two tranches

By Andrea Heisinger

Omaha, March 24 - Questar Gas Co. launched $150 million of notes (A3/A-) in two tranches Monday, but did not price them, a market source said.

The $50 million tranche of 10-year notes launched at Treasuries plus 275 basis points, the source said.

The $100 million tranche of 30-year notes launched at Treasuries plus 285 bps.

Bookrunners are Barclays Capital Inc. and J.P. Morgan Securities Inc.

Co-managers are Lazard Capital Markets, RBS Greenwich Capital and Wachovia Capital Markets, LLC.

Proceeds will be used to repay $50 million in long-term bank loans with the remainder used to reduce intercompany short-term debt owed to Questar.

The natural gas company and subsidiary of Questar Corp. is based in Salt Lake City, Utah.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.