By Christine Van Dusen
Atlanta, Jan. 31 - EP Energy Corp. priced €500 million 7% notes due Feb. 1, 2021 (expected ratings: B1//B+) at par to yield 7%, a market source said.
The notes were talked at a yield in the 7% area.
JPMorgan, Citigroup, Societe Generale, RBS and UniCredit were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for refinancing, share buybacks and fees and expenses.
EP Energy is a Houston-based oil and natural gas exploration and production company with businesses in Germany, the Czech Republic and Slovakia.
| Issuer: | EP Energy Corp.
|
| Amount: | €500 million
|
| Maturity: | Feb. 1, 2021
|
| Description: | Notes
|
| Bookrunners: | JPMorgan, Citigroup, Societe Generale, RBS, Unicredit
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Call features: | Callable Feb. 1, 2017
|
| Trade date: | Jan. 31
|
| Settlement date: | Feb. 1
|
| Expected ratings: | Moody's: B1
|
| Fitch: B+
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 7% area
|
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