Northwest Pipeline offers $250 million senior note exchange

Tulsa’s Northwest Pipeline LLC announced it’s started a $250 million senior note exchange.

The wholly owned subsidiary of The Williams Companies, Inc. is offering the exchange for any and all of its $250 million in outstanding 4% Senior Notes due 2027. The notes were originally issued in a private transaction in August of this year for an equal amount of its registered 4% Senior Notes due 2027.

The exchange offer will end at 5 p.m. New York Time on Dec. 12, 2018.

The Original Notes were an additional issuance of Northwest Pipeline’s $250 million aggregate principal amount of 4.000% Senior Notes due 2027 that were issued on April 3, 2017, all of which have been previously exchanged for notes that have been registered under the Securities Act of 1933, as amended (the “Act”).

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 Act, 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 Northwest Pipeline’s obligations under the registration rights agreement entered into in connection with the issuance of the Original Notes. Northwest Pipeline will not receive any proceeds from the exchange offer.