Boardwalk Pipelines to price notes via four bookrunners

By William Gullotti

Buffalo, N.Y., Feb. 9 – Boardwalk Pipelines, LP is expected to offer senior notes (Baa1//BBB), according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be guaranteed by parent company Boardwalk Pipeline Partners, LP.

The notes will feature a make-whole call and then a par call.

The joint bookrunning managers for the offering are Barclays, J.P. Morgan Securities LLC, MUFG and Truist Securities, Inc.

Boardwalk plans to use the proceeds to pay down the outstanding $300 million of 4% notes due 2022 at Gulf South. The remaining amounts, if any, will be used for general corporate purposes, which may include, among other things, growth capital expenditures and repayment of other future maturities of long-term debt.

Boardwalk Pipelines is a Houston-based owner and operator of natural gas pipelines and storage facilities.

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