New Issue: Eagle Rock Energy settles $204 million placement of units

By Sheri Kasprzak

New York, July 12 - Eagle Rock Energy Partners, LP sealed a $204,000,017 private placement of common trust units.

The company sold 9,230,770 common units at $22.10 each to third-party investors led by Lehman Brothers MLP Opportunity Fund LP and including New Mountain Vantage; Perry Capital, LLC; Harvest Fund Advisors, LLC; RCH Energy MLP Fund, LP; and Strome MLP Fund.

The proceeds will be used to partially fund its acquisition of Escambia Asset Co., LLC, a natural gas processing company, and its acquisition of Redman Energy Holdings, LP and Redman Energy Holdings II, LP, another natural gas company. The combined purchase price is expected to be $420 million.

Houston-based Eagle Rock is a midstream and upstream natural gas and oil gathering, processing and transporting company.

Issuer:	Eagle Rock Energy Partners, LP
Issue:	Common trust units
Amount:	$204,000,017
Units:	9,230,770
Price:	$22.10
Warrants:	No
Investors:	Lehman Brothers MLP Opportunity Fund LP (lead); New Mountain Vantage; Perry Capital, LLC; Harvest Fund Advisors, LLC; RCH Energy MLP Fund, LP; Strome MLP Fund
Settlement date:	July 12
Stock symbol:	Nasdaq: EROC
Stock price:	$24.01 at close July 11

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