American Energy starts roadshow for $325 million eight-year notes

By Paul A. Harris

Portland, Ore., Sept. 3 – American Energy – Woodford, LLC began a roadshow on Wednesday for a $325 million offering of eight-year senior notes, according to a syndicate source.

The deal is expected to price early in the week ahead.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes become callable after three years at par plus 75% of the coupon and feature a three-year 40% equity clawback and a 101% poison put.

The Oklahoma City-based energy company plans to use the proceeds to repay its revolver, to fund future acquisitions and capital expenditures and to return capital to the sponsor.

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