a blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS and the day to day news related to the group...along with perhaps a few other things...as long as the conversation is kept civil. Although i have no problem telling you what i am doing regarding my trades...PLEASE DON'T ASK ME WHAT YOU SHOULD DO REGARDING WHETHER TO BUY, SELL OR SHORT!!! i am not in the stock business.
Wednesday, December 10, 2008
Closed with a solid 8 point gain on the MLP index. Atlas Holdings (AHD) is up 2.67 today which was a 65% gain. It was priced like a call option. No news that i can see.
15.25% ( with underwriting costs perhaps 15.5%) Cost of money for EP which is less than investment grade BB-.
HS --------------------------------- New Issue-El Paso Corp sells $500 mln in 5-yr notes Tue Dec 9, 2008 5:23pm EST
Dec 9 (Reuters) - Oil and natural gas pipeline company El Paso Corporation (EP.N: Quote, Profile, Research, Stock Buzz) on Tuesday sold $500 million of five-year senior notes, according to IFR, a Thomson Reuters publication.
Morgan Stanley, Citigroup Global Markets, Goldman Sachs and JP Morgan were the joint bookrunning managers for the sale. BORROWER: EL PASO CORPORATION AMT $500 MLN COUPON 12.00 PCT MATURITY 12/12/2013 TYPE SR NOTES ISS PRICE 88.909 FIRST PAY 6/12/2009 MOODY'S Ba3 YIELD 15.25 PCT SETTLEMENT 12/12/2008 S&P BB-MINUS SPREAD 1362 BPS/ PAY FREQ SEMI-ANNUAL FITCH N/A 2.00 PCT DUE 11/2013 MAKE WHOLE CALL 50 BPS
15.25% ( with underwriting costs perhaps 15.5%) Cost of money for EP which is less than investment grade BB-.
ReplyDeleteHS
---------------------------------
New Issue-El Paso Corp sells $500 mln in 5-yr notes
Tue Dec 9, 2008 5:23pm EST
Dec 9 (Reuters) - Oil and natural gas pipeline company El
Paso Corporation (EP.N: Quote, Profile, Research, Stock Buzz) on Tuesday sold $500 million of
five-year senior notes, according to IFR, a Thomson Reuters
publication.
Morgan Stanley, Citigroup Global Markets, Goldman Sachs
and JP Morgan were the joint bookrunning managers for the
sale.
BORROWER: EL PASO CORPORATION
AMT $500 MLN COUPON 12.00 PCT MATURITY 12/12/2013
TYPE SR NOTES ISS PRICE 88.909 FIRST PAY 6/12/2009
MOODY'S Ba3 YIELD 15.25 PCT SETTLEMENT 12/12/2008
S&P BB-MINUS SPREAD 1362 BPS/ PAY FREQ SEMI-ANNUAL
FITCH N/A 2.00 PCT DUE 11/2013 MAKE WHOLE CALL 50 BPS
http://www.reuters.com/article/marketsNews/idINN0962586520081209?rpc=44