EV Energy to start roadshow Friday for $250 million eight-year notes

By Paul A. Harris

Portland, Ore., March 10 - EV Energy Partners, LP and EV Energy Finance Corp. will begin a roadshow on Friday for their $250 million offering of eight-year senior notes, according to an informed source.

The deal is set to price late in the March 14 week.

RBC Capital Markets is the left bookrunner for the Rule 144A and Regulation S with registration rights offering. J.P. Morgan Securities LLC, Wells Fargo Securities and BNP Paribas are the joint bookrunners.

BBVA Securities, Scotia Capital, US Bancorp Investments and Comerica Investments are the co-managers.

The notes come with four years of call protection and feature a three-year 35% equity clawback and a 101% poison put.

Proceeds, along with proceeds from the partnership's March 2011 equity offering, will be used to repay borrowings under its revolver, which were drawn to finance a Barnett Shale acquisition.

The prospective issuer is a Houston-based master limited partnership engaged in acquiring, producing and developing oil and natural gas properties.

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