-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WP9H/mH7VzMFzWXMo9R6E0hnZa3MpCI8otE+GHsXsfdvHdtSc19XVCnFZNLJX8VI NZhPsS6jRej4ghGWSFVfJw== 0001104659-09-034200.txt : 20090522 0001104659-09-034200.hdr.sgml : 20090522 20090521134325 ACCESSION NUMBER: 0001104659-09-034200 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090521 DATE AS OF CHANGE: 20090521 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PANHANDLE EASTERN PIPE LINE CO LP CENTRAL INDEX KEY: 0000076063 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922] IRS NUMBER: 440382470 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-137998-01 FILM NUMBER: 09844899 BUSINESS ADDRESS: STREET 1: 5444 WESTHEIMER ROAD CITY: HOUSTON STATE: TX ZIP: 77056-5306 BUSINESS PHONE: 713-989-7000 MAIL ADDRESS: STREET 1: 5444 WESTHEIMER ROAD CITY: HOUSTON STATE: TX ZIP: 77056-5306 FORMER COMPANY: FORMER CONFORMED NAME: PANHANDLE EASTERN PIPE LINE CO LLC DATE OF NAME CHANGE: 20040420 FORMER COMPANY: FORMER CONFORMED NAME: PANHANDLE EASTERN PIPE LINE CO DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PANHANDLE EASTERN PIPE LINE CO LP CENTRAL INDEX KEY: 0000076063 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922] IRS NUMBER: 440382470 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 5444 WESTHEIMER ROAD CITY: HOUSTON STATE: TX ZIP: 77056-5306 BUSINESS PHONE: 713-989-7000 MAIL ADDRESS: STREET 1: 5444 WESTHEIMER ROAD CITY: HOUSTON STATE: TX ZIP: 77056-5306 FORMER COMPANY: FORMER CONFORMED NAME: PANHANDLE EASTERN PIPE LINE CO LLC DATE OF NAME CHANGE: 20040420 FORMER COMPANY: FORMER CONFORMED NAME: PANHANDLE EASTERN PIPE LINE CO DATE OF NAME CHANGE: 19920703 FWP 1 a09-13990_2fwp.htm FILING UNDER SECURITIES ACT RULES 163/433 OF FREE WRITING PROSPECTUSES

Filed Pursuant to Rule 433

Registration No. 333-137998

May 21, 2009

 

Panhandle Eastern Pipe Line Company, LP

Pricing Term Sheet

$150,000,000  8.125% Senior Notes due 2019

 

The following information supplements the Preliminary Prospectus Supplement dated May 21, 2009, and is filed pursuant to Rule 433, under Registration No. 333-137998

 

Issuer:

 

Panhandle Eastern Pipe Line Company, LP

 

 

 

Security Type:

 

Senior Unsecured Notes

 

 

 

Ratings (Moody’s / S&P / Fitch):

 

Baa3(Stable)/ BBB-(Stable)/ BBB(Negative)

 

 

 

Pricing Date:

 

May 21, 2009

 

 

 

Settlement Date:

 

June 2, 2009

 

 

 

Maturity Date:

 

June 1, 2019

 

 

 

Principal Amount:

 

$150,000,000

 

 

 

Benchmark:

 

T 3.125% due May 15, 2019

 

 

 

Benchmark Price/Yield

 

98-26+ / 3.263%

 

 

 

Re-offer Spread to Benchmark:

 

+486.2 bps

 

 

 

Yield to Maturity:

 

8.125%

 

 

 

Coupon:

 

8.125%

 

 

 

Public Offering Price:

 

100%

 

 

 

Optional Redemption:

 

T +50 bps

 

 

 

Interest Payment Dates:

 

June 1 and December 1, beginning December 1, 2009

 

 

 

CUSIP / ISIN:

 

698455 AC6/ US 698455AC64

 

 

 

T+7 Settlement Cycle

 

We expect that delivery of the notes will be made against payment on or about the settlement date specified above, which will be the seventh business day following the pricing date (this settlement cycle being referred to as “T+7”). Pursuant to Rule 15c6-1 under the Exchange Act, trades in the secondary market generally are required to settle in three business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers of notes who wish to trade notes more than four business days prior to the settlement date will be required to specify an alternate settlement cycle at the time of such trade to prevent a failed settlement.

 

 

 

Joint Bookrunning Managers:

 

Wachovia Capital Markets, LLC
RBC Capital Markets Corporation

 

The issuer and its parent, Southern Union Company, have filed a registration statement (including a base prospectus), and the issuer has filed a prospectus supplement, with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus supplement for this offering, the issuer’s prospectus in that registration statement and any other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by searching the SEC online data base (EDGAR) on the SEC web site at http://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and prospectus if you request it by calling Wachovia Capital Markets, LLC toll free at 1-800-326-5897 or RBC Capital Markets Corporation toll free at 1-866-375-6829.

 

 

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