HOUSTON, April 10 /PRNewswire-FirstCall/ -- Southern Natural Gas Company (SNG), a wholly owned subsidiary of El Paso Corporation , announced the expiration and final results of its previously announced cash tender offer to purchase any and all of its outstanding 6.70% Notes due October 1, 2007 (CUSIP No. 843452AW3). The tender offer expired at 12:00 midnight, New York City time, on April 9, 2007. $51,945,000 in aggregate principal amount of notes were validly tendered and accepted for purchase by SNG on the early settlement date, which was March 27, 2007, and there were no additional tenders after the early tender date.
Citigroup Corporate and Investment Banking served as dealer manager for the tender offer and Global Bondholders Services Corporation served as the depositary and information agent for the tender offer.
SNG is a Delaware corporation incorporated in 1935, and a wholly owned subsidiary of El Paso Corporation. Its primary business consists of the interstate transportation and storage of natural gas and LNG terminalling operations. SNG conducts its business activities through its natural gas pipeline systems, which include its Southern Natural Gas pipeline system and its 50 percent indirect interest in the Florida Gas Transmission pipeline system, an LNG receiving terminal and storage facilities.
El Paso Corporation provides natural gas and related energy products in a safe, efficient, dependable manner. El Paso Corporation owns North America's largest natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit http://www.elpaso.com/ .
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are based on assumptions that SNG believes to be reasonable. However, actual results almost always vary from assumed facts and the differences can be material, depending upon the circumstances. As a result, you should not place undue reliance on such forward-looking statements. The words "believe," "expect," "estimate," "anticipate" and similar expressions will generally identify forward-looking statements. All of SNG's forward- looking statements, whether written or oral, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany such forward-looking statements. In addition, SNG disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.
With this in mind, you should consider the risks discussed in the Offer to Purchase, under the caption "Risk Factors" in SNG's Annual and Quarterly Reports on Forms 10-K and 10-Q and in the other documents SNG files with the SEC from time to time, which could cause actual results to differ materially from those expressed in any forward-looking statement made by SNG or on SNG's behalf.
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