From American Energy Partners and its American Energy-Permian Basin LLC on Wednesday:
OKLAHOMA CITY, JULY 16, 2014: American Energy – Permian Basin, LLC (AEPB), an affiliate of American Energy Partners, LP (AELP), announced today the pricing of its offering of $350 million of floating rate senior unsecured notes due 2019 ("2019 Notes"), $650 million of 7.125% senior unsecured notes due 2020 ("2020 Notes") and $600 million of 7.375% senior unsecured notes due 2021 ("2021 Notes"). The 2019 Notes will be sold to investors at 99% of their principal amount, while the 2020 Notes and 2021 Notes will be sold to investors at 100% of their principal amount. Subject to the satisfaction of certain conditions, the offering of the Notes is expected to close on July 31, 2014.
The net proceeds from the offering of each series of Notes will be used as part of the financing for the proposed acquisition by AEPB of the Permian Basin business and assets of Enduring Resources II, LLC ("Acquisition") and for general corporate purposes. The offering of the Notes is scheduled to close prior to the completion of the Acquisition and, therefore, AEPB expects to deposit the gross proceeds received from the offering of each series of Notes and certain additional amounts in an escrow account pending the satisfaction of certain conditions, including the completion of the Acquisition.
The Notes have not been registered under the Securities Act of 1933, as amended (Securities Act) or the securities laws of any other state or jurisdiction, and may not be offered or sold without registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful
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