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News Apr 15, 2018

Transcontinental Gas Pipe Line Company, LLC’s $1 Billion Senior Notes Offering

Shearman & Sterling represented Barclays Capital Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and Wells Fargo Securities, LLC as representatives of the initial purchasers in connection with the Rule 144A/Regulation S offering by Transcontinental Gas Pipe Line Company, LLC (“Transco”) of $400 million of its 4.000% senior notes due 2028 and $600 million of its 4.600% senior notes due 2048.  Transco intends to use the net proceeds from the offering to repay indebtedness, including its $250 million 6.05% notes due 2018 upon their maturity on June 15, 2018, and for general corporate purposes including the funding of capital expenditures. 

Transco is an interstate natural gas transmission company that owns a natural gas pipeline system extending from Texas, Louisiana, Mississippi and the Gulf of Mexico through Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania and New Jersey to the New York City metropolitan area.

The Shearman & Sterling team included associates Maeve Chandler and Justin Huynh (both New York–General Practice) and Jake Glazeski (New York–Compensation, Governance & ERISA).

The Team