By Andrea Heisinger
Omaha, May 19 - Transcontinental Gas Pipeline Corp. priced $250 million 6.05% 10-year senior notes Monday at Treasuries plus 222 basis points, according to market sources and a press release from the company.
The notes (Baa2/BBB-/BBB) priced at 99.733 to yield 6.085%.
Bookrunners for the Rule 144A issue were Banc of America Securities LLC, BNP Paribas Securities and RBS Greenwich Capital.
Proceeds will be used to repay revolving credit agreement borrowings incurred in 2008, with the remainder to go to general corporate purposes.
The natural gas pipeline subsidiary of Williams is based in Houston.
| Issuer: | Transcontinental Gas Pipeline Corp.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | June 15, 2018
|
| Bookrunners: | Banc of America Securities LLC, BNP Paribas Securities, RBS Greenwich Capital
|
| Coupon: | 6.05%
|
| Price: | 99.733
|
| Yield: | 6.085%
|
| Spread: | Treasuries plus 222 bps
|
| Distribution: | Rule 144A
|
| Trade date: | May 19
|
| Settlement date: | May 22
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
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