By Andrea Heisinger
Omaha, May 19 - Northwest Pipeline GP 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 during December 2007 in order to repay long-term notes at maturity.
The natural gas pipeline subsidiary of Williams is based in Salt Lake City, Utah.
| Issuer: | Northwest Pipeline GP
|
| 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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