... Columbia Pipeline Partners Closes IPO

Columbia Pipeline Partners Closes Initial Public Offering

naogp-business-briefsThe initial public offering for Columbia Pipeline Partners closed with 46,811,398 common units representing limited partner interests in the partnership at $23 per common unit.

In addition to the common units issued at closing, 7,021,709 common units were issued pursuant to the full exercise of the underwriters’ option to purchase additional common units at the initial public offering price. The common units began trading on the New York Stock Exchange Feb. 6 under the symbol “CPPL.”

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The public owns an approximate 53.5 percent limited partner interest in Columbia Pipeline Partnership. Columbia Energy Group owns the remaining approximate 46.5 percent limited partner interest in the Partnership, the general partner of the Partnership and the Partnership’s incentive distribution rights.

In September 2014, NiSource announced plans to separate its natural gas pipeline and related businesses into a stand-alone publicly traded company, Columbia Pipeline Group, with NiSource becoming a pure-play regulated natural gas and electric utilities company.

Barclays and Citigroup acted as joint book-running managers and structuring agents for the offering. BofA Merrill Lynch, Goldman, Sachs & Co., J.P Morgan, Morgan Stanley and Wells Fargo Securities also acted as joint book-running managers. BNP PARIBAS, Credit Suisse, RBC Capital Markets, Fifth Third Securities, KeyBanc Capital Markets, MUFG, Mizuho Securities, Scotia Howard Weil and Huntington Investment Company acted as co-managers for the offering. Outside counsel to the underwriters is Baker Botts.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and declared effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, or any solicitation of an offer to buy, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the final prospectus may be obtained at the SEC’s website, sec.gov, under Columbia Pipeline Partners LP.

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