750M

El Paso Corp. said Friday it had completed a key element of its balance sheet “enhancement”, agreeing to sell $750 million of common stock at a net price of $42.50 per share through an underwritten public offering with J.P. Morgan Securities Inc. The sale price is a 5.6% discount to El Paso’s $45 closing stock price on Thursday (Dec. 20), with the underwriter retaining a 15% over-allotment option.