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News Sep 05, 2018

Northwest Pipeline LLC’s $250 Million Senior Notes Offering

Shearman & Sterling represented Credit Suisse, SunTrust and U.S. Bancorp. as initial purchasers in connection with the Rule 144A/Regulation S offering by Northwest of $250 million 4.00% senior notes due 2027. The notes are an additional issuance of Northwest’s 4.00% senior notes due 2027 originally issued on April 3, 2017. Northwest intends to use the net proceeds from the offering to repay its intercompany debt owed to The Williams Companies, Inc., its indirect parent company, incurred in connection with the repayment of its 6.05% senior notes at their maturity on June 15, 2018 and any excess net proceeds will be used for general corporate purposes.

Northwest is a natural gas pipeline network and the primary artery for the transmission of natural gas to the Pacific Northwest and Intermountain Region.

The Shearman & Sterling team below was supported by associate Timothy Oyen (New York–Corporate).

The Team