American Energy – Permian Basin LLC (AEPB), an affiliate of American Energy Partners LP, has completed its offering of $295 million of 8.00% senior secured second lien notes due 2020 in an unregistered offering to institutional investors.
The net proceeds from the offering of the notes, which were approximately $290 million, will be used by AEPB to repay a portion of the borrowings currently outstanding under its revolving credit facility.
Goldman, Sachs & Co., and Credit Suisse acted as joint global coordinators and joint book-running managers for the notes offering. BofA Merrill Lynch, Morgan Stanley, and Wells Fargo Securities also acted as joint book-running managers for the offering. Sullivan & Cromwell LLP acted as legal advisor to AEPB in connection with the notes offering, and Latham & Watkins LLP acted as legal advisor to the initial purchasers.