Market Overview

Southwest Gas Announces Pricing of $250 Million 3.875% Senior Notes Due 2022


Southwest Gas Corporation (NYSE: SWX) today announced that it has priced a registered public offering of $250 million aggregate principal amount of its Senior Notes due 2022. The notes will bear interest at a rate of 3.875% per annum, payable semi-annually in arrears on April 1 and October 1 of each year beginning on October 1, 2012. The notes will mature on April 1, 2022. The offering is expected to close on March 23, 2012, subject to the satisfaction of customary closing conditions.

BNY Mellon Capital Markets, LLC; J.P. Morgan Securities LLC; and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers, and Wells Fargo Securities, LLC; Blaylock Robert Van, LLC; and Samuel A. Ramirez & Company, Inc. are acting as co-managers for the offering.

Southwest Gas stated that it expects to use approximately $200 million of the net proceeds from the offering in connection with its repayment of the $200 million outstanding principal amount of its 7.625% Senior Notes when they mature on May 15, 2012. The balance of the net proceeds may be used for general corporate purposes, as provided in the prospectus.

Posted-In: News Financing Offerings


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