Debt | Capital Markets | Private Equity Activity
Memorial Production Prices $300MM Senior Note Offering
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Memorial Production Partners LP and its wholly owned subsidiary, Memorial Production Finance Corporation, has reported the pricing of their offering of $300 million in aggregate principal amount of their 7.625% senior unsecured notes due 2021.
The notes are being offered as additional notes under the same indenture pursuant to which their existing $400 million of 7.625% senior notes due 2021 were issued. The Existing Notes and the additional notes will be treated as a single class under the indenture. The additional notes will be issued at an offering price of 97.0% of the principal amount, for a yield to worst of 8.163%. The offering is expected to close on October 10, 2013, subject to customary closing conditions.
MEMP intends to use the net proceeds from the private placement to repay…
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