American Energy – Marcellus to launch $1.2 billion of loans on Tuesday

By Sara Rosenberg

New York, June 20 – American Energy – Marcellus LLC is scheduled to hold a bank meeting at 11 a.m. ET in New York on Tuesday to launch $1.2 billion in senior secured term loans, according to a market source.

Citigroup Global Markets Inc. is the left lead on the deal.

The debt consists of a $750 million first-lien term loan and a $450 million second-lien term loan, the source said.

Proceeds will be used to fund the acquisition of about 48,000 net acres of leasehold in Doddridge, Harrison, Marion, Tyler and Wetzel Counties, W.Va., from East Resources Inc. and an unnamed private company.

At closing, the properties are expected to have net production of around 135 mmcfe per day.

Closing is expected this summer.

American Energy – Marcellus is an American Energy Partners LP platform company. Oklahoma City-based American Energy Partners was founded by Aubrey K. McClendon in April 2013 to capitalize on opportunities available in unconventional resource plays onshore in the United States.

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