Colorado Interstate Gas Co. LLC has submitted a notice to the New York Stock Exchange (NYSE) of its intention to voluntarily withdraw the company’s 6.85% senior debentures due June 15, 2037, from listing on the NYSE and to voluntarily terminate the registration of the 2037 debentures under the Securities Exchange Act of 1934, as amended.
The company’s Management Committee made this decision after consideration and review of the cumulative costs and advantages and disadvantages of being a listed company registered with the US Securities and Exchange Commission (SEC). The decision was based on consideration of a number of factors, including the costs and administrative burdens of preparing and filing periodic reports with the SEC, and the low trading volume of the 2037 debentures on the NYSE.
Following delisting from the NYSE, the 2037 debentures will no longer be listed on any national securities exchange. The company anticipates, but can provide no assurance, that the 2037 debentures will be quoted on an over-the-counter market following delisting. The company intends to file a notification of removal from listing and/or registration on Form 25 with the SEC on or after Dec. 3. The company anticipates that the 2037 debentures would no longer be listed on the NYSE beginning on or about Dec. 14.
The company also intends on Dec. 14 to file with the SEC a Form 15 to suspend its reporting obligations under the Exchange Act. Upon filing the Form 15, the company's obligation to file certain reports with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, will be suspended.
The company, an indirect subsidiary of Kinder Morgan Inc. (NYSE: KMI), is a Delaware limited liability company and owns an interstate pipeline system serving the Rocky Mountain Region.