AEPB offers $295M of senior secured second lien notes

American Energy – Permian Basin LLC (AEPB), an affiliate of American Energy Partners LP, intends to offer $295 million of senior secured second lien notes due 2020 in an unregistered offering to institutional investors.

The net proceeds from the offering of the notes, estimated to be approximately $290 million, will be used by AEPB to repay a portion of the borrowings currently outstanding under its revolving credit facility. 

As of May 26, AEPB had borrowings of $400 million outstanding under the revolving credit facility. After giving effect to the offering and the use of proceeds, AEPB expects to have approximately $290 million in availability under the revolving credit facility. Amounts repaid under the revolving credit facility may be subsequently reborrowed, subject to the borrowing base limit, and used for capital expenditures and general corporate purposes.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...