Linn Energy LLC (NASDAQ: LINE) and its wholly owned subsidiary Linn Energy Finance Corp. priced an offering of senior unsecured notes that totaled $1.1 billion, the company said Sept. 4.
An offering of $450 million, in aggregate principal amount, of 6.5% senior unsecured notes due 2019 was made, alongside an offering of $650 million, in aggregate principal amount, of 6.5% notes due 2021, Linn said.
The notes due 2019 were offered as additional notes under an indenture. On May 13, 2011, $750 million, in aggregate principal amount, of 6.5% notes due 2019 were offered for the indenture, the company said.
Both series of notes are scheduled to close Sept. 9, 2019, Linn said.
Net proceeds will repay bridge loan debts and outstanding credit facility debts, the company added. Barclays Capital Inc., Scotia Capital (USA) Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC, Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, Goldman Sachs & Co. (NYSE: GS), RBS Securities Inc. and UBS Securities LLC are joint book-running managers, the company said.
Houston-based Linn Energy acquires and develops domestic oil and natural gas.
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