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American Energy – Permian to repay revolver via note offering proceeds
By Tali Rackner
Norfolk, Va., May 27 – American Energy – Permian Basin, LLC, an affiliate of American Energy Partners, LP, plans to repay a portion of the borrowings currently outstanding under its revolving credit facility with the proceeds from a $295 million senior secured second-lien note offering, according to a press release.
As of Tuesday, the company had borrowings of $400 million outstanding under the revolving credit facility.
Pending the use of proceeds, American Energy expects to have about $290 million in availability under the revolver. Amounts repaid may be subsequently re-borrowed, subject to the borrowing base limit, and used for capital expenditures and general corporate purposes.
American Energy is an Oklahoma City-based energy company involved in onshore U.S. unconventional resource plays.
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