Issuer:
|
TEPPCO Partners, L.P. | |
Guarantee:
|
Unconditionally guaranteed by TE Products Pipeline Company, LLC, TCTM, L.P., TEPPCO Midstream Companies, LLC and Val Verde Gas Gathering Company, L.P. | |
Security:
|
5.90% Senior Notes due 2013 (2013 Notes) | |
6.65% Senior Notes due 2018 (2018 Notes) | ||
7.55% Senior Notes due 2038 (2038 Notes) | ||
Size:
|
2013 Notes: $250,000,000 | |
2018 Notes: $350,000,000 | ||
2038 Notes: $400,000,000 | ||
Maturity Date:
|
2013 Notes: April 15, 2013 | |
2018 Notes: April 15, 2018 | ||
2038 Notes: April 15, 2038 | ||
Coupon:
|
2013 Notes: 5.90% | |
2018 Notes: 6.65% | ||
2038 Notes: 7.55% | ||
Interest Payment Dates:
|
April 15 and October 15, commencing October 15, 2008 | |
Interest Record Dates:
|
April 1 and October 1 | |
Price to Public:
|
2013 Notes: 99.922% | |
2018 Notes: 99.640% | ||
2038 Notes: 99.451% | ||
Benchmark Treasury:
|
2013 Notes: 2.75% due February 28, 2013 | |
2018 Notes: 3.50% due February 15, 2018 | ||
2038 Notes: 5.00% due May 15, 2037 | ||
Benchmark Treasury Yield:
|
2013 Notes: 2.617% | |
2018 Notes: 3.549% | ||
2038 Notes: 4.346% | ||
Spread to Benchmark
Treasury:
|
2013 Notes: + 330 bps | |
2018 Notes: + 315 bps | ||
2038 Notes: + 325 bps |
Yield:
|
2013 Notes: 5.917% | |
2018 Notes: 6.699% | ||
2038 Notes: 7.596% | ||
Make-Whole Call:
|
2013 Notes: T + 50 bps | |
2018 Notes: T + 50 bps | ||
2038 Notes: T + 50 bps | ||
Expected Settlement Date:
|
March 27, 2008 | |
CUSIP:
|
2013 Notes: 872384AD4 | |
2018 Notes: 872384AE2 | ||
2038 Notes: 872384AF9 | ||
Ratings:
|
Baa3 (Stable) by Moodys Investors Service, Inc. | |
BBB- (Stable) by Standard & Poors Ratings Services | ||
BBB- (Stable) by Fitch Ratings | ||
Joint Book-Running Managers:
|
UBS Securities LLC | |
J.P. Morgan Securities Inc. | ||
SunTrust Robinson Humphrey, Inc. | ||
Wachovia Capital Markets, LLC | ||
Co-Managers:
|
BNP Paribas Securities Corp. | |
Citigroup Global Markets Inc. | ||
Greenwich Capital Markets, Inc. | ||
KeyBanc Capital Markets Inc. | ||
Wedbush Morgan Securities Inc. | ||
Wells Fargo Securities, LLC |