Following the acquisition, which is expected to close by the end of this month, El Paso Pipeline will own 100% of SLNG and Elba Express and a 60% interest in SNG.
El Paso Pipeline expects to finance the acquisition in a manner consistent with its current and target capital structure, including $415m of cash proceeds from its September equity issuance and may include the issuance of public securities and the issuance of a promissory note to El Paso Corporation.
El Paso Pipeline is a Delaware-based limited partnership formed by El Paso Corporation to own and operate natural gas transportation pipelines and storage assets.
