By Andrea Heisinger
Omaha, Jan. 10 - Questar Pipeline Co. priced an upsized $200 million 5.83% 10-year notes Thursday to yield 200 basis points more than Treasuries, market sources said.
The issue was increased from a planned $100 million.
The notes (A2/A-) have a price of 99.953 to yield 5.838%. They have a make-whole redemption option of Treasuries plus 30 bps.
Bookrunners were Banc of America Securities LLC and SunTrust Robinson Humphrey.
Co-managers were BMO Capital Markets, Lazard Capital Markets, Wachovia Capital Securities Inc. and Wells Fargo Securities.
Proceeds will be used to repay inter-company demand notes owing to Questar.
The unit of interstate natural gas pipeline company Questar Corp. is based in Salt Lake City.
| Issuer: | Questar Pipeline Co.
|
| Issue: | Notes
|
| Amount: | $200 million, upsized from $100 million
|
| Maturity: | Feb. 1, 2018
|
| Bookrunners: | Banc of America Securities LLC, SunTrust Robinson Humphrey
|
| Co-managers: | BMO Capital Markets, Lazard Capital Markets, Wachovia Capital Securities Inc. and Wells Fargo Securities
|
| Coupon: | 5.83%
|
| Price: | 99.953
|
| Yield: | 5.838%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Trade date: | Jan. 10
|
| Settlement date: | Jan. 15
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
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