Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for American Energy – Woodford, LLC > News item |
American Energy talks $325 million eight-year notes at small discount to yield in 9% area
By Paul A. Harris
Portland, Ore., Sept. 10 – American Energy – Woodford, LLC talked its $325 million offering of eight-year senior notes (Caa1) to price at a small discount and to yield in the 9% area, according to a syndicate source.
Books close at noon ET on Thursday, and the deal is set to price thereafter.
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.
© 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.