debt
confidence high
sentiment neutral
materiality 0.50
Boardwalk Pipeline Partners, LP: debt financing — Boardwalk Pipelines issues $600M of 5.625% senior notes due 2034
Boardwalk Pipeline Partners, LP
- $600M aggregate principal, 5.625% interest, matures 2034; fully guaranteed by parent Boardwalk Pipeline Partners.
- Interest payable semi-annually on Feb 1 and Aug 1, starting Aug 1, 2024.
- Notes redeemable at make-whole price prior to May 1, 2034; at par thereafter.
- Indenture limits liens, sale-leaseback, and asset sales; no financial covenants or change-of-control put.
- Issuance closed Feb 15, 2024; proceeds for general corporate purposes.