LINN Energy, LLC and its wholly owned subsidiary, Linn Energy Finance Corp., intends, subject to market conditions, to commence an underwritten public offering of $1.0 billion of senior notes, consisting of 6.500% senior unsecured notes due 2019 and senior unsecured notes due 2021.
The 6.500% senior notes due 2019 are expected to be issued as additional notes under an indenture pursuant to which Linn Energy, LLC and Linn Energy Finance Corp. issued $750 million aggregate principal amount of 6.500% senior notes due 2019 on May 13, 2011. The additional 6.500% senior notes due 2019 are expected to be substantially identical to, and be treated as a single class of debt securities with, those previously issued 6.500% senior notes due 2019 under the indenture governing such notes. Net proceeds from the offering as well as cash on hand are expected to be used to repay indebtedness outstanding under Linn Energy, LLC's bridge loan agreement.
Barclays Capital Inc., Scotia Capital (USA) Inc., RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Credit Agricole Corporate and Investment Bank, Goldman, Sachs & Co., RBS Securities Inc. and UBS Securities LLC are acting as joint book-running managers for the offering.
