| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for EP Energy, as > News item |
EP Energy gets tenders for 2.92 million of two notes in asset sale
By Susanna Moon
Chicago, Sept. 29 Czech Republics EP Energy, as announced the results of its asset sale offer for its 600 million 4 3/8% senior secured notes due 2018 and its 500 million 5 7/8% senior secured notes due 2019.
Investors had tendered 1,566,000 of the 4 3/8% notes and 1.35 million of the 5 7/8% notes by the end of the offer ended at noon ET on Sept. 28, according to a company notice.
After settlement on Oct. 3, there will be left outstanding 598,434,000 of the 4 3/8% notes and 498.65 million of the 5 7/8% notes.
As announced Aug. 30, the company was offering to purchase up to 313 million principal amount of the two note series at par of 1,000 principal amount of notes plus accrued interest.
EP Energy previously said it was making the offer to apply some of the proceeds from the sale of JTSD Braunkohlebergbau GmbH to its parent company, Energeticky a prumyslovy holding, as, and other transactions in connection with the sale to acquire some of the notes.
The company said it will fund the offer with cash on hand from the asset sale with revolver commitments on hand to pay accrued interest.
EP Energy said it used some of the proceeds from the asset sale to repay some of its secured credit facilities as well as debt of some subsidiaries that do not guarantee the notes in an aggregate amount of about 180 million.
The dealer manager is Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com). The tender agent is Citibank, NA (+44 20 7508 3867, +44 20 3320 2405 or exchange.gats@citi.com).
EP Energy is an integrated electric utility.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.