Boardwalk Prices Additional $250 Million Offering Of Senior Notes

HOUSTON, March 10, 2015 /PRNewswire/ -- Boardwalk Pipeline Partners, LP (NYSE: BWP) today announced that its wholly-owned subsidiary, Boardwalk Pipelines, LP ("Boardwalk"), has priced a public offering of an additional $250 million aggregate principal amount of its 4.95% senior notes due December 15, 2024. Boardwalk originally offered and sold $350 million in aggregate principal amount of its 4.95% senior notes due 2024 on November 26, 2014.  Boardwalk expects the offering to close on March 13, 2015, subject to customary closing conditions.

Boardwalk intends to use the net proceeds of approximately $247.1 million from this offering (after deducting the underwriting discount and estimated offering expenses) to retire a portion of the outstanding $250 million aggregate principal amount of Texas Gas' 4.60% notes due 2015.  Initially, Boardwalk expects to use the net proceeds to reduce outstanding borrowings under its revolving credit facility. Subsequently, on or prior to June 1, 2015, Boardwalk expects to retire all of the outstanding $250 million aggregate principal amount of Texas Gas' 4.60% notes due 2015 with borrowings under its revolving credit facility. 

Barclays, J.P. Morgan, Citigroup, Deutsche Bank Securities, MUFG and Wells Fargo Securities are acting as joint book-running managers for the offering. BB&T Capital Markets, BBVA, Fifth Third Securities, Goldman, Sachs & Co., Mizuho Securities, Morgan Stanley, PNC Capital Markets LLC, RBC Capital Markets and UBS Investment Bank 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 SEC.  Copies of these documents may be obtained by contacting:

Barclays c/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Telephone: (888) 603-5847[email protected]

J.P. Morgan Securities LLC383 Madison AvenueNew York, NY 10179Attention: Investment Grade Syndicate Desk, 3rd FloorTelephone: (212) 834-4533

Citigroupc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Telephone: (800) 831-9146[email protected]

Deutsche Bank Securities Inc. Attn: Prospectus Group60 Wall StreetNew York, NY 10005-2836Telephone: (800) 503-4611Email: [email protected]

Mitsubishi UFJ Securities (USA), Inc. 1633 Broadway, 29th FloorNew York, NY 10019Attention: Capital Markets GroupTelephone: (877) 649-6848

Wells Fargo Securities, LLCAttention: WFS Customer Service608 2nd AvenueSouth Minneapolis, MN 55402Telephone: (800) 645-3751Email: [email protected]

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, LPBoardwalk Pipeline Partners, LP (NYSE: BWP) is a midstream master limited partnership that provides transportation, storage, gathering and processing of 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 U.S. Securities and Exchange Commission.

CONTACT: Boardwalk Pipeline Partners, LP

Molly Ladd Whitaker, 866-913-2122Director, Investor Relations and Corporate Communications

or

Jamie Buskill, 713-479-8082Senior Vice President, Chief Financial and Administrative Officer and Treasurer

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SOURCE Boardwalk Pipeline Partners, LP