By Paul A. Harris
Portland, Ore., July 25 - Atlas Resource Partners, LP priced a $250 million issue of 9¼% eight-year senior notes (Caa1//) at 99.297 to yield 9 3/8% on Thursday, according to a market source.
The yield printed at the wide end of yield talk that was set in the 9¼% area.
Deutsche Bank Securities Inc. was the lead bookrunner.
The Philadelphia-based exploration & production master limited partnership plans to use the proceeds to fund a portion of its previously announced acquisition of natural gas assets from EP Energy E&P Co., LP.
| Issuer: | Atlas Resource Partners, LP
|
| Face amount: | $250 million
|
| Proceeds: | $248 million
|
| Maturity: | Aug. 15, 2021
|
| Securities: | Senior notes
|
| Lead bookrunner: Deutsche Bank Securities Inc.
|
| Coupon: | 9¼%
|
| Price: | 99.297
|
| Yield: | 9 3/8%
|
| First call: | Aug. 15, 2017 at 104.625
|
| Trade date: | July 25
|
| Settlement date: | July 30
|
| Rating: | Moody's: Caa1
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 9¼% area
|
| Marketing: | Roadshow
|
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