Boardwalk Prices $500 Million Offering Of Senior Notes

HOUSTON, Jan. 5, 2017 /PRNewswire/ -- Boardwalk Pipeline Partners, LP (NYSE: BWP) today announced that its wholly-owned subsidiary, Boardwalk Pipelines, LP ("Boardwalk"), has priced a public offering of $500 million aggregate principal amount of 4.450% senior notes due 2027. Boardwalk expects the offering to close on January 12, 2017, subject to customary closing conditions.

Boardwalk intends to use the net proceeds of approximately $494.1 million from this offering (after deducting the underwriting discount and estimated offering expenses) for general partnership purposes, which may include, among other things, growth capital expenditures, repayment of future maturities of long-term debt and additions to working capital. Pending such use, Boardwalk intends to temporarily use the proceeds to reduce borrowings under its revolving credit facility.

Barclays, Mizuho Securities, MUFG, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, J.P. Morgan and RBC Capital Markets are acting as joint book-running managers for the offering. BofA Merrill Lynch, Regions Securities LLC, Santander, US Bancorp, BB&T Capital Markets, Goldman, Sachs & Co. and Morgan Stanley are acting as co-managers for the offering.

The offering is being made only through the prospectus supplement and accompanying base prospectus, which is part of an effective shelf registration statement previously filed by BWP with the Securities and Exchange Commission ("SEC"). Copies of these documents may be obtained by contacting:

Barclays Capital Inc.  c/o Broadridge Financial Solutions  1155 Long Island Avenue  Edgewood, NY 11717  Telephone: (888) 603-5847  [email protected]

Mizuho Securities USA Inc.Attn: Debt Capital Markets320 Park Avenue, 12th FloorNew York, NY 10022Telephone: (866) 271-7403

MUFG Securities Americas Inc.Attn: Capital Markets Group1221 Avenue of the Americas, 6th FloorNew York, NY 10020Telephone: (877) 649-6848[email protected]

Wells Fargo Securities, LLC608 2nd Avenue South, Suite 1000Minneapolis, MN 55402Attn: WFS Customer ServiceTelephone: (800) 645-3751[email protected]

Citigroup Global Markets Inc.c/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Telephone: (800) 831-9146[email protected]  

Deutsche Bank Securities Inc. Attn: Prospectus Group  60 Wall Street  New York, NY 10005-2836  Telephone: (800) 503-4611  [email protected] 

J.P. Morgan Securities LLC 383 Madison Avenue  New York, NY 10179  Attn: Investment Grade Syndicate Desk, 3rd Floor  Telephone: (212) 834-4533

RBC Capital Markets, LLCAttn: DCM Transaction Management200 Vesey StreetNew York, NY 10281Telephone: (866) 375-6829

You may also obtain these documents for free when they are available by visiting EDGAR on the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Boardwalk Pipeline Partners, LP

Boardwalk Pipeline Partners, LP (NYSE: BWP) is a midstream master limited partnership that primarily transports and stores natural gas and liquids for its customers.

Forward-Looking Statements

This press release contains forward-looking statements relating to expectations, plans or prospects for Boardwalk Pipeline Partners, LP and its subsidiaries. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond Boardwalk Pipeline Partners, LP's control and the risk factors and other cautionary statements discussed in Boardwalk's filings with the SEC.

Investor Contacts:

Molly Ladd Whitaker, (866) 913-2122  Director of Investor Relations and Corporate Communications  [email protected]

or

Jamie Buskill, (713) 479-8082  Senior VP, Chief Financial and Administrative Officer and Treasurer

 

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SOURCE Boardwalk Pipeline Partners, LP