EP Energy to repay reserve-based revolver debt via new note offering

By Tali Rackner

Norfolk, Va., Nov. 16 – EP Energy LLC and wholly owned subsidiary Everest Acquisition Finance Inc. plan to repay amounts outstanding under their senior reserve-based revolving credit facility with the proceeds from a $350 million senior secured note offering, according to a press release.

Proceeds will also be used for general corporate purposes and to pay related fees and expenses.

EP Energy LLC is a Houston-based oil and natural gas exploration and production company. It is a wholly owned subsidiary of EP Energy Corp.

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