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BreitBurn Energy Partners L.P. (the “Partnership”)
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.
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