Breitburn begins public offering of $400M of senior notes due 2023

Breitburn Energy Partners LP

Breitburn Energy Partners LP (NASDAQ:BBEP) has begun a public offering, subject to market and other conditions, of $400,000,000 aggregate principal amount of senior notes due 2023 of Breitburn and Breitburn Finance Corp. (co-issuer), its wholly owned subsidiary.

Initially, the senior notes will be guaranteed by all of Breitburn’s subsidiaries (other than the co-issuer) that guarantee borrowings under its bank credit facility. Breitburn intends to use the net proceeds from the offering to reduce outstanding borrowings under its bank credit facility and for general partnership purposes.

Citigroup, BMO Capital Markets, Credit Suisse, JP Morgan, RBC Capital Markets, RBS, and Wells Fargo Securities will act as joint book-running managers of this offering.

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