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.
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Amount: | €500 million
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Maturity: | Feb. 1, 2021
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Description: | Notes
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Bookrunners: | JPMorgan, Citigroup, Societe Generale, RBS, Unicredit
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Coupon: | 7%
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Price: | Par
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Yield: | 7%
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Call features: | Callable Feb. 1, 2017
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Trade date: | Jan. 31
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Settlement date: | Feb. 1
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Expected ratings: | Moody's: B1
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| Fitch: B+
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Distribution: | Rule 144A/Regulation S
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Price talk: | 7% area
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