Closed a public offering of an additional $200 million of 6.5% senior unsecured notes due 2021, which priced at 99.5 percent of par to yield 6.567%.
The partnership used the net proceeds to purchase approximately $165.638 million aggregate principal amount of its 8.75% senior notes due 2018. The remaining proceeds will be used to pay debt and to provide working capital for general partnership purposes.
On Feb. 24, the partnership completed a public offering of $300 million of its 6.5% senior notes 2021. The additional notes and the notes issued on Feb. 24 will be treated as a single class of debt securities under the indenture.
Barclays Capital was the sole book-running manager.