Boardwalk Prices $500 Million Offering Of Senior Notes

HOUSTON, Jan. 5, 2017 /PRNewswire/ -- Boardwalk Pipeline Partners, LP (NYSE:BWP) today announced that its wholly-owned subsidiary, Boardwalk Pipelines, LP ("Boardwalk"), has priced a public offering of $500 million aggregate principal amount of 4.450% senior notes due 2027. Boardwalk expects the offering to close on January 12, 2017, subject to customary closing conditions.

Boardwalk intends to use the net proceeds of approximately $494.1 million from this offering (after deducting the underwriting discount and estimated offering expenses) for general partnership purposes, which may include, among other things, growth capital expenditures, repayment of future maturities of long-term debt and additions to working capital. Pending such use, Boardwalk intends to temporarily use the proceeds to reduce borrowings under its revolving credit facility.

Barclays, Mizuho Securities, MUFG, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, J.P. Morgan and RBC Capital Markets are acting as joint book-running managers for the offering. BofA Merrill Lynch, Regions Securities LLC, Santander, US Bancorp, BB&T Capital Markets, Goldman, Sachs & Co. and Morgan Stanley 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 BWP 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]

Mizuho Securities USA Inc.
Attn: Debt Capital Markets
320 Park Avenue, 12th Floor
New York, NY 10022
Telephone: (866) 271-7403

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

Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attn: WFS Customer Service
Telephone: (800) 645-3751
[email protected]

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146
[email protected]  

Deutsche Bank Securities Inc.
Attn: Prospectus Group 
60 Wall Street 
New York, NY 10005-2836 
Telephone: (800) 503-4611 
[email protected] 

J.P. Morgan Securities LLC
383 Madison Avenue 
New York, NY 10179 
Attn: Investment Grade Syndicate Desk, 3rd Floor 
Telephone: (212) 834-4533

RBC Capital Markets, LLC
Attn: DCM Transaction Management
200 Vesey Street
New York, NY 10281
Telephone: (866) 375-6829

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 (NYSE: BWP) is a midstream master limited partnership that primarily transports and stores natural gas and liquids for its customers.

Forward-Looking Statements

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

Investor Contacts:

Molly Ladd Whitaker, (866) 913-2122 
Director of Investor Relations and Corporate Communications 
[email protected]

or

Jamie Buskill, (713) 479-8082 
Senior VP, Chief Financial and Administrative Officer and Treasurer

SOURCE Boardwalk Pipeline Partners, LP