#United States #Senior Notes #Houston #Debt Refinancing #Boardwalk Pipeline

Boardwalk Pipeline Partners Initiates $550 Million Senior Notes Offering

On November 13, 2025, Boardwalk Pipeline Partners, LP made a significant announcement regarding its financial strategy. The company revealed that it is pricing a public offering of senior notes totaling $550 million with an interest rate of 5.375% due in 2036. This offering is part of Boardwalk's ongoing efforts to optimize its capital structure and manage its financing more effectively. The anticipated closing date for this offering is November 24, 2025, contingent upon customary closing conditions.

Purpose of the Offering

The proceeds from this offering are projected to be approximately $543.8 million after accounting for underwriting discounts and estimated offering expenses. Boardwalk intends to utilize these funds primarily to retire its outstanding $550 million senior notes, which carry an interest rate of 5.95% and are due in 2026. This refinancing effort is a strategic move aimed at reducing interest expenses and bolstering the company's financial position ahead of the maturity of the existing debt.

Management Team and Execution

Executive management at Boardwalk Pipeline Partners expressed optimism regarding the offering, emphasizing its importance in strengthening the company's cash flow. The company has engaged several leading financial institutions to execute this offering, including Barclays, Citigroup, MUFG, Wells Fargo Securities, BofA Securities, and J.P. Morgan. These institutions are acting as joint book-running managers for the issuance, indicating robust support from the financial market for Boardwalk’s initiatives.

Regulatory Compliance and Transparency

The offering will be made via a prospectus supplement and accompanying base prospectus that comply with an effective shelf registration statement already filed with the Securities and Exchange Commission (SEC). Interested investors can obtain these documents to ensure transparency and adhere to regulatory requirements. By fostering trust and openness, Boardwalk asserts its commitment to its stakeholders and potential investors.

For those seeking further information, copies of the offering documents can be requested from the respective financial institutions playing key roles in this offering. Each institution provides contact details to facilitate investor inquiries, ensuring that potential customers can access necessary information efficiently.

About Boardwalk Pipeline Partners

Boardwalk Pipeline Partners engages in the midstream transportation and storage of natural gas, natural gas liquids, and other hydrocarbons. Its expertise lies in delivering vital services linked to energy infrastructure, reflecting its critical role in the industry. Moreover, Boardwalk also provides ethane supply and transportation services, primarily focused on serving industrial clients in Louisiana and Texas. This specialization contributes to its reputation as a reliable partner in the energy sector.

Market Outlook and Future Expectations

The forward-looking statements provided by the company discuss expectations concerning the offering’s completion and the strategic use of its proceeds. Boardwalk Pipeline Partners is well aware of the risks and uncertainties that may arise, including fluctuations in market conditions and other variables outside its control. Nonetheless, the management remains focused on navigating these challenges effectively and reinforcing the company's operational capacities in the competitive energy landscape.

This announcement positions Boardwalk Pipeline Partners for a stronger financial future by proactively managing debt and enhancing its capital base. Investors and industry watchers alike are keenly observing this development as it unfolds, considering its implications for Boardwalk’s operations moving into the next decade.