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Independence Energy starts roadshow for $500 million five-year notes; initial talk 6½%-6¾%
By Paul A. Harris
Portland, Ore., April 27 – Independence Energy Finance LLC began marketing $500 million of five-year notes (B1/B) on Tuesday, according to a market source.
Initial price talk is 6½% to 6¾%.
J.P. Morgan Securities LLC is leading the deal, which is set to price on Thursday.
The notes come with two years of call protection.
The independent oil and gas exploration and production company plans to use the proceeds to repay debt under its revolver.
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