By Rebecca Melvin
New York, Nov. 19 – American Energy Permian Holdings LLC, an affiliate of American Energy – Permian Basin LLC and American Energy Partners LP, has priced a downsized $515 million of 8% eight-year exchangeable junior subordinated notes at a discount to par of 96, according to a news release.
Joint bookrunners are Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., Jefferies & Co. and Morgan Stanley & Co. LLC.
Proceeds will be used to fund the purchase of preferred units in American Energy – Permian Basin LLC. Those proceeds will be used to fund pending acquisitions, to pay related fees and expenses and for general corporate purposes.
The notes are not registered, and further details on the exchangeables that have been priced prior to an initial public offering were not immediately available.
Oklahoma City-based American Energy is involved in onshore U.S. unconventional resource plays.
| Issuer: | American Energy – Permian Holdings LLC
|
| Exchange entity: | American Energy – Permian Basin LLC
|
| Issue: | Exchangeable junior subordinated notes
|
| Amount: | $515 million, downsized from $800 million
|
| Maturity: | 2022
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., Jefferies & Co., Morgan Stanley & Co. LLC
|
| Coupon: | 8%
|
| Price: | 96, discount to par
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
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