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El Paso Energy Capital Trust I, 4 3/4% Trust Convertible Preferred Securities
Ticker Symbol: EP-C     CUSIP: 283678209     Exchange: NYSE

QUANTUMONLINE.COM SECURITY DESCRIPTION:  El Paso Energy Capital Trust I, 4 3/4% Trust Convertible Preferred Securities, liquidation amount $50 per share, guaranteed by El Paso Natural Gas Co. (now El Paso Corp. NYSE: EP), redeemable at the issuer's option on or after 3/31/2002 at $50 per share plus accrued and unpaid dividends, and maturing 3/31/2028. Distributions of 4 3/4% ($2.375) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th day of the month in which the payment is due (NOTE: the ex-dividend date is one business day prior to the record date). The preferred shares are convertible any time at the holder's option into 1.2022 common shares of El Paso Corp. (NYSE: EP), an initial conversion price of $41.59 per common share. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 4 3/4% Subordinated Deferrable Interest Convertible Debentures due 3/31/2028 which were purchased from the company using the funds generated from the sale of the convertible trust preferred securities. See the IPO prospectus for further information on the convertible trust preferred securities and their conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Conv Shrs
Conv Price
Distribution Dates 15%
Tax Rate
NYSE
Chart
4.75%
$2.38
$50.00
$50.00
3/31/2002
3/31/2028
Baa3 BB+
4/09/2023
1.2022
$41.59
3/31, 6/30, 9/30 & 12/31
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (KMI)

Notes:  From the Kinder Morgan 10K dated 12/31/2020-- The Trust I Preferred Securities are non-voting (except in limited circumstances), pay quarterly distributions at an annual rate of 4.75% and carry a liquidation value of $50 per security plus accrued and unpaid distributions. The Trust I Preferred Securities outstanding as of December 31, 2020 are convertible at any time prior to the close of business on March 31, 2028, at the option of the holder, into the following mixed consideration: (i) 0.7197 of a share of our Class P common stock; and (ii) $25.18 in cash without interest. We have the right to redeem these Trust I Preferred Securities at any time.

Nov. 26, 2014-- Kinder Morgan, Inc. (NYSE: KMI) today announced it has completed its acquisition of the outstanding equity securities of Kinder Morgan Energy Partners, L.P. (NYSE: KMP), Kinder Morgan Management, LLC (NYSE: KMR) and El Paso Pipeline Partners, L.P. (NYSE: EPB). The approximately $76 billion transaction was initially announced Aug. 10, 2014. CEO Richard D. Kinder stated that the Company is delighted to close the KMP, KMR and EPB transactions and believes merging the companies benefits its shareholders and unitholders, simplifies the Kinder Morgan story by transitioning to one security and paves the way for superior growth at KMI for years to come. KMI projects a dividend of $2.00 per share for 2015, a 16 percent increase over the 2014 KMI dividend budget of $1.72 per share. The company expects to grow the dividend by approximately 10 percent each year from 2015 through 2020, while producing excess coverage of over $2 billion.

   Link to IPO Prospectus
Previous Ticker Symbol: EPG-C    Changed: 12/31/2001
Market Value $ Million

Company's Online Information Links
HOME PAGE:     http://www.kindermorgan.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Email Address km_ir@kindermorgan.com

Address and Phone Numbers
Address:   1001 Louisiana Street, Suite 1000, Houston, TX 77002
Main Phone Number 713-369-9000
Fax Number 713-495-2817
Investor Relations   Miguel Garcia 713-369-9490
Toll Free Phone Number 800-324-2900
CEO - Steven J. Kean CFO - Kimberly A. Dang


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