Finance & Investing | Capital Markets | Private Equity Activity
American Energy - Woodford Details Offering Results
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American Energy – Woodford, LLC (AEW), an affiliate of American Energy Partners, LP, announced the early participation deadline results of its private offer to exchange any and all of its outstanding 9.00% Senior Notes due 2022 held by Eligible Holders for its new 12.00% Second Lien notes due 2020.
As of 5:00 p.m. New York City time on June 8, 2015, approximately $336 million in aggregate principal amount of the Existing Notes, representing 95.99% of the outstanding principal amount of the Existing Notes, had been validly tendered (and not validly withdrawn) pursuant to the Exchange Offer. In exchange for each $1,000 principal amount of Existing Notes validly tendered (and not validly withdrawn) at or prior to the Early Participation Deadline, each Eligible Holder will receive total exchange consideration consisting of $700 principal amount of the New Notes.
The Early Participation Consideration includes the early participation premium, which consists of $50 principal amount of New Notes.