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EP Energy Paying Down Debt
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EP Energy LLC, a wholly-owned subsidiary of EP Energy Corporation, and its wholly-owned subsidiary, Everest Acquisition Finance Inc., as co-issuer (together with EP Energy, the "Issuers"), has announced the pricing of the previously announced unregistered offering of $800 million aggregate principal amount of 6.375% Senior Notes due 2023 at an issue price of 100%.
The offering is expected to close on May 28, 2015, subject to certain closing conditions.
The Issuers intend to use the proceeds from the offering of the Notes (i) to purchase for cash any and all of the $750 million aggregate principal amount of their outstanding 6.875% Senior Secured Notes due 2019 in connection with EP Energy's tender offer announced today, (ii) to the extent the Tender Offer is not fully subscribed, to…
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