December 07, 2016 11:44 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Transcontinental Gas Pipe Line Company, LLC

Company Overview

Transcontinental Gas Pipe Line Company, LLC engages in the interstate transportation of natural gas in the United States. The company owns a natural gas pipeline system extending from Texas, Louisiana, Mississippi, and the Gulf of Mexico through Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Pennsylvania, and New Jersey to the New York City metropolitan area. It primarily serves public utilities and municipalities that provide service to residential, commercial, industrial, and electric generation end users; and shippers, such as public utilities, municipalities, intrastate pipelines, direct industrial users, electrical generators, and gas marketers and producers. The ...

2800 Post Oak Boulevard

Houston, TX 77056

United States

Founded in 1946

Key Executives for Transcontinental Gas Pipe Line Company, LLC

Vice President and Treasurer
Age: 57
Senior Vice President and Director
Age: 61
Secretary
Controller and Assistant Treasurer
Vice President, Director and Member of Management Committee
Age: 59
Compensation as of Fiscal Year 2016.

Transcontinental Gas Pipe Line Company, LLC Key Developments

Transco Commences Registered Exchange Offer for its 7.85% Senior Notes Due 2026

Transcontinental Gas Pipe Line Company, LLC announced that it has commenced an offer to exchange any and all of its $1 billion in aggregate principal amount of outstanding 7.85% Senior Notes due 2026 (the ‘Original Notes’) for an equal amount of its registered 7.85% Senior Notes due 2026 (the ‘Exchange Notes’). The terms of the Exchange Notes are identical in all material respects to those of the Original Notes, except that the Exchange Notes have been registered under the Securities Act of 1933, as amended, and the transfer restrictions, registration rights and additional interest provisions relating to the Original Notes do not apply to the Exchange Notes. The purpose of the Exchange Offer is to fulfill Transco’s obligations under the registration rights agreement entered into in connection with the issuance of the Original Notes. Transco will not receive any proceeds from the exchange offer. The exchange offer will expire at 5:00 p.m. Eastern Standard Time (EST) on Jan. 4, 2017, unless extended (such date and time, as may be extended, the ‘Expiration Date’). The settlement date for the exchange offer will occur promptly following the Expiration Date. The terms of the exchange offer and other information relating to Transco and the Exchange Notes are in a prospectus dated Dec. 5, 2016, a copy of which has been filed with the Securities and Exchange Commission. Transco has not authorized any person to provide information other than as in the prospectus.

Transcontinental Gas Pipe Line Co.'s Dalton Gas Expansion in Georgia Secures FERC Approval

FERC approved Transcontinental Gas Pipe Line Co.'s expansion project that will deliver an additional 448,000 Dth/d of gas in Georgia. FERC issued a certificate of public convenience and necessity to build and operate the project in its Aug. 3 order. The commission attached a number of conditions to the approval, and the commission must still approve late modifications to the project. The U.S. EPA urged FERC in May to reconsider its environmental assessment of the project. The EPA claimed the report did not "fully describe the magnitude and intensity of the impacts" of the Dalton expansion project. The agency also recommended that FERC supplement the environmental review after Transco submitted almost 30 modifications to the application after FERC published the positive review on March 31. The project is expected to cost approximately $471.9 million. FERC's order also stipulated that the project must be constructed and ready for service within two years, by Aug. 3, 2018. The 115 miles of various-diameter pipeline will be installed in Georgia. Three meter stations, one compressor station, valves, yard piping and other accessory facilities will be constructed and installed in Virginia, North Carolina and Georgia. Transco executed binding precedent agreements for firm transportation service with Atlanta Gas Co. for 240,000 Dth/d and Oglethorpe Power Corp. for 208,000 Dth/d. The additional capacity will be delivered from a receipt point in Zone 6 on Transco's main line in Mercer County, N.J., to an interconnection with Boardwalk Pipeline Partners LP's Gulf South Pipeline Co. LP in Pike County, Miss., and interconnections in northwest Georgia. The project will be jointly owned by Transco and Dogwood Enterprise Holdings Inc., with Dogwood acting as a passive owner.

Transcontinental Gas Pipe Line Company, LLC Prices Senior Notes Due 2026

Transcontinental Gas Pipe Line Company, LLC announced that it has priced its previously announced offering of senior notes. The $1 billion in aggregate principal amount of senior notes due 2026, scheduled to be delivered on January 22, 2016, were priced with a 7.85% coupon and at an offering price of 99.825% of par, with a yield to investors of 7.875%. Transco intends to use the net proceeds from the offering to repay indebtedness, including $200 million of 6.40% notes due 2016 upon their maturity on April 15, 2016, and to fund capital expenditures. The notes will be offered pursuant to certain exemptions from registration under the Securities Act of 1933, as amended (the 'Securities Act'). The offering of the notes has not been registered under the Securities Act or applicable state securities laws. The notes may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

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