Boardwalk Pipeline (BWP) Announces 10.5M Common Offering

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Boardwalk Pipeline Partners, LP (NYSE: BWP) announced that it plans to offer 10,500,000 common units representing limited partner interests in a registered offering. The underwriters are also expected to be granted a 30-day option to purchase up to 1,575,000 additional common units.

Barclays, Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers for the common unit offering. The Partnership expects to use the net proceeds from the offering, together with amounts to be contributed by its general partner to maintain its 2% general partner interest, to repay borrowings outstanding under the Partnership’s credit facility and for general corporate purposes.

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