Kinder Morgan Energy Partners Announces Closing of Underwriters Overallotment Option
HOUSTON, Jul 06, 2009 (BUSINESS WIRE) -- Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced that the underwriters of its recently completed public offering of 5,750,000 common units have purchased all 862,500 common units which were subject to their option in the underwriting agreement to cover overallotments. The underwriters were Merrill Lynch & Co., Barclays Capital, Citi and UBS Investment Bank as joint book-running managers, and Deutsche Bank Securities, J.P. Morgan, Morgan Keegan & Company, Inc., RBC Capital Markets and Wachovia Securities as co-managers. The exercise price for the additional common units was the same as the price at which the 5,750,000 common units were sold to the underwriters.
Total net proceeds from the additional common units are $43 million, bringing the total net proceeds from the offering to $330 million. With the closing of this overallotment option, KMP has sold approximately $750 million of equity so far in 2009 versus its full year budget of $1 billion. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. Kinder Morgan Energy Partners, L.P. is a leading pipeline transportation and energy storage company in North America. KMP owns an interest in or operates more than 26,000 miles of pipelines and 170 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also the leading provider of CO2 for enhanced oil recovery projects in the United States. One of the largest publicly traded pipeline limited partnerships in America, KMP has an enterprise value of over $20 billion. The general partner of KMP is owned by Knight Inc. (formerly Kinder Morgan, Inc.), a private company. This news release includes forward-looking statements. Although Kinder Morgan believes that its expectations 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 are enumerated in the prospectus supplement and accompanying prospectus relating to the offering as filed with the Securities and Exchange Commission. SOURCE: Kinder Morgan Energy Partners, L.P. Kinder Morgan Energy Partners, L.P.
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Larry Pierce, 713-369-9407
or
Investor Relations
Mindy Mills, 713-369-9490
www.kindermorgan.com
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