The 5.994% notes are due 2033

Davis Polk advised the joint book-running managers in connection with a Rule 144A / Regulation S offering of $500 million aggregate principal amount of 5.994% senior notes due 2033 by KeySpan Gas East Corporation.

KeySpan owns and operates natural gas distribution and storage systems and provides natural gas to approximately 590,000 residential, commercial and industrial customers located in Nassau and Suffolk counties in Long Island, New York, and the Rockaway Peninsula in a portion of Queens, New York. KeySpan is a wholly owned subsidiary of National Grid USA, which in turn is an indirect wholly owned subsidiary of National Grid plc, an international electricity and natural gas energy delivery company based in the United Kingdom.

The Davis Polk corporate team included partner Reuven B. Young and associate Serdar Inci. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Counsel Michael Comstock and Loyti Cheng and associate Timothy J. Sullivan provided environmental advice. Members of the Davis Polk team are based in the London and New York offices.

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