Boardwalk Prices $600 Million Offering of Senior Notes

HOUSTON, Feb. 8, 2024 /PRNewswire/ — Boardwalk Pipeline Partners, LP (the “Company”) today announced that its wholly owned subsidiary, Boardwalk Pipelines, LP (“Boardwalk”), has priced a public offering of $600.0 million aggregate principal amount of 5.625% senior notes due 2034. Boardwalk expects the offering to close on February 15, 2024, subject to customary closing conditions.

Boardwalk intends to use the net proceeds of approximately $593.8 million from this offering (after deducting the underwriting discount and estimated offering expenses) to retire the outstanding $600.0 million aggregate principal amount of the 4.95% notes due 2024 of Boardwalk at or prior to maturity.

Barclays, J.P. Morgan, MUFG, Truist Securities, Citigroup, Regions Securities LLC, TD Securities and Wells Fargo Securities are acting as the joint book-running managers for the offering. BofA Securities and Goldman Sachs & Co. LLC 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 the Company 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] 

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

MUFG Securities Americas Inc.
Attn: Capital Markets Group
1221 Avenue of the Americas, 6th Floor
New York, NY 10020
Telephone: (877) 649-6848

Truist Securities, Inc.
Attn: Investment Grade Debt Capital Markets
3333 Peachtree Road NE
Atlanta, GA 30326
Telephone: (800) 685-4786

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 operates in the midstream portion of the natural gas and natural gas liquids and other hydrocarbons industry, providing transportation and storage services for those commodities. Boardwalk Pipeline Partners, LP also provides ethane supply and transportation services for industrial customers in Louisiana and Texas.

Forward-Looking Statements

This press release contains forward-looking statements relating to expectations, plans or prospects for the Company 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 the Company’s control and the risk factors and other cautionary statements discussed in the Company’s filings with the SEC.

Investor Contacts:

Suzy LaMar
Investor Relations
(866) 913-2122
[email protected]

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SOURCE Boardwalk Pipeline Partners, LP