Boardwalk Pipeline Partners Prices Public Offering at $30.12; Shares Fall 5%

By
A A A

Boardwalk Pipeline Partners ( BWP ) is down almost 5% to $29.84 just after the opening bell as it priced a public offering of 11 million common units at $30.12 per unit.

BWP expects the offering to close on June 4, 2013. The firm has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 common units.

In connection with this offering, BWP will receive net proceeds after offering expenses of approximately $327.4 million, including the general partner's proportionate capital contribution of $6.8 million to maintain its 2% general partner interest. The company expects to use the net proceeds from the offering to repay borrowings outstanding.

Shares of BWP trade within a 52-week range of $23.55 - $31.74.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: BWP

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

67%

Most Active by Volume

64,789,752
  • $117.60 ▼ 0.86%
53,107,118
  • $10.39 ▼ 1.05%
42,600,857
  • $17.10 ▼ 0.47%
36,917,582
  • $11.02 ▼ 0.36%
34,902,121
  • $40.75 ▼ 0.10%
31,489,742
  • $15.68 ▲ 0.06%
31,037,743
  • $75.63 ▲ 2.19%
29,605,187
  • $10.11 ▼ 0.69%
As of 11/25/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com