Gulf South is expecting to use the net proceeds from the offering for the repayment of its debts and all of its borrowings outstanding under its revolving credit facility.
The affiliates of Gulf South will use the remaining amount to repay additional credit facility borrowings or used for general business purposes, which may include retirement of other long-term debt.
The company is expecting to close the offering on 12 June 2012, subject to customary closing conditions.
Boardwalk Pipeline Partners through its subsidiaries engages in the transportation, storage and gathering of natural gas.
Gulf South Pipeline Company is a web-like interstate natural gas pipeline that gathers gas from the prolific basins between Texas and Alabama and delivers that gas to on-system markets and to off-system markets in the Northeast and Southeast.
