BreitBurn Energy Partners Announces Private Offering of $200M Senior Unsecured Notes
BreitBurn Energy Partners L.P. (the “Partnership”) (NASDAQ: BBEP) announced today that it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of $200 million in aggregate principal amount of senior unsecured notes due 2022 (the “Additional Notes”). The Additional Notes are being offered as additional notes to the Partnership's existing $250 million in aggregate principal amount of 7.875% Senior Notes due 2022 (the “Existing Notes”). The Additional Notes will have identical terms, other than the issue date and initial interest payment date, and will constitute part of the same series as and be fungible with the Existing Notes. The Partnership intends to use the net proceeds from the proposed offering to repay a portion of its borrowings under its bank credit facility.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.