HOUSTON -- (Business Wire)
Copano Energy, L.L.C. (the Company) announced today that it and its
wholly owned subsidiary Copano Energy Finance Corporation (together, the
Issuers) will redeem for cash $178,500,000 aggregate principal amount of
their outstanding 7.125% Senior Notes due 2021 (CUSIP No. 217203AE8)
(the Notes), $510,000,000 aggregate principal amount of which are
outstanding as of Aug. 5, 2013. The redemption date will be Sept. 4,
2013 (the Redemption Date).
The Notes are being called for redemption pursuant to the provisions of
the indenture relating to the Notes, which provisions allow the Issuers
to redeem up to 35 percent of the aggregate principal amount of the
Notes with the net cash proceeds of one or more Equity Offerings (as
defined in the indenture relating to the Notes) by the Company. On Aug.
5, 2013, the Company and Kinder Morgan Energy Partners, L.P. (Kinder
Morgan) entered into a membership interest purchase agreement pursuant
to which the Company will offer and sell to Kinder Morgan additional
membership units representing membership interests of the Company for a
purchase price equal to or greater than the aggregate Redemption Payment
described below (the Equity Offering), which Equity Offering will be
consummated on or prior to the Redemption Date.
The Issuers will pay a redemption price of $1,071.25 per $1,000
principal amount of the Notes, plus any accrued and unpaid interest to
Sept. 4, 2013 (the Redemption Payment).
A notice of partial redemption is being sent to all currently registered
holders of the Notes by the trustee, U.S. Bank National Association.
Copies of the notice of partial redemption and additional information
relating to the procedure for redemption may be obtained from U.S. Bank
National Association by calling 1 (800) 934-6802 (toll free).
Payment of the Redemption Payment will be made on or after Sept. 4,
2013, upon presentation and surrender of the Notes by mail to U.S. Bank
National Association, Corporate Trust Services, P.O. Box 64111, St.
Paul, Minnesota 55164-0111 or by hand or express delivery to U.S. Bank
National Association, Corporate Trust Services, 60 Livingston Avenue,
1st Floor – Bond Drop Window, St. Paul, Minnesota 55107. Unless the
Issuers default in making the Redemption Payment, interest on the Notes
(or portion thereof) called for redemption will cease to accrue on and
after the Redemption Date and the only remaining right of the holders
thereof is to receive the Redemption Payment upon surrender to U.S. Bank
National Association of the Notes.
Copano Energy, L.L.C. is a wholly owned subsidiary of Kinder Morgan
Energy Partners, L.P. (NYSE: KMP), a leading pipeline transportation and
energy storage company and one of the largest publicly traded pipeline
limited partnerships in America. It owns an interest in or operates
approximately 54,000 miles of pipelines and 180 terminals. The general
partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI). Kinder
Morgan is the largest midstream and the third largest energy company in
North America with a combined enterprise value of approximately $115
billion. It owns an interest in or operates approximately 82,000 miles
of pipelines and 180 terminals. Its pipelines transport natural gas,
gasoline, crude oil, CO2 and other products, and its
terminals store petroleum products and chemicals and handle such
products as ethanol, coal, petroleum coke and steel. KMI owns the
general partner interests of KMP and El Paso Pipeline Partners, L.P.
(NYSE: EPB), along with limited partner interests in KMP and EPB and
shares of Kinder Morgan Management, LLC (NYSE: KMR). For more
information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These
forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan believes
that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that such assumptions will
materialize. Important factors that could cause actual results to differ
materially from those in the forward-looking statements herein include
those enumerated in Kinder Morgan’s reports filed with the Securities
and Exchange Commission. Forward-looking statements speak only as of the
date they were made, and except to the extent required by law, Kinder
Morgan undertakes no obligation to update or review any forward-looking
statement because of new information, future events or other factors.
Because of these uncertainties, readers should not place undue reliance
on these forward-looking statements.
Kinder Morgan Energy Partners, L.P.
Source: Kinder Morgan Energy Partners, L.P.
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