El Paso Corp. subsidiary El Paso Pipeline Partners LP filed a registration statement with the Securities and Exchange Commission for an initial public offering of common units, the company said Friday.

Application will be made to list the common units, which represent limited partner interests in El Paso Pipeline Partners, on the New York Stock Exchange under the symbol “EPB.” El Paso had previously said the offering would be made in the fourth quarter (see NGI, Aug. 13).

El Paso Pipeline Partners will own and operate natural gas transportation pipelines and storage assets consisting of Wyoming Interstate Co. Ltd., an interstate pipeline primarily located in Wyoming and Colorado, and 10% interests in two interstate pipelines — Colorado Interstate Gas Co. in the U.S. Rocky Mountains and Southern Natural Gas Co. in the southeastern United States. Combined, these three interstate pipeline businesses consist of more than 12,300 miles of pipeline and associated storage facilities with aggregate underground working gas storage capacity of 89 Bcf.

El Paso Pipeline Partners anticipates offering 25,000,000 common units in the initial public offering, representing a 32.2% limited partner interest. Following this offering, El Paso Corp. will own the 2% general partner interest, all of the incentive distribution rights, a 65.8% limited partner interest in El Paso Pipeline Partners as well as the remaining 90% interest in each of Colorado Interstate and Southern Natural.

At or prior to the closing of the offering, Southern Natural will transfer to El Paso Corp. its equity investment in Citrus Corp. and its wholly owned subsidiaries Southern LNG Inc. and Elba Express Co. LLC. These assets will not become part of El Paso Pipeline Partners.

The underwriters are expected to be granted a 30-day option to purchase up to 3,750,000 additional common units if they sell more than 25,000,000 common units in the offering. El Paso Corp.’s limited partner interest would be reduced to 60.9% if the underwriters exercise their option to purchase additional common units in full.

Lehman Brothers, Citi, Goldman, Sachs & Co. and UBS Investment Bank will act as joint book-running managers of the offering.

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