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EV Energy Repurchases $50 Million in Senior Notes

EV Energy Partners, L.P. announced the repurchase of $74 million of outstanding Senior Notes for $50 million in cash, representing a price to par of 67.6 percent, plus accrued interest. EVEP has approximately $426 million in Senior Notes outstanding after the repurchase.

The Partnership currently has $265 million outstanding under its credit facility and a borrowing base of $625 million. Total debt outstanding is $691 million.

"This completes the Senior Note repurchases authorized under the recent amendment to our credit facility. These repurchases reduce total debt by approximately $24 million and annual interest expense by $4.8 million," stated Michael Mercer, President and CEO.

Announced Date
December 07,2015
Value  ( $MM )
50
Type
Redemption
Use of Fund
Debt Reduction
Company
EV Energy Partners Lp
Regions
United States
Country
United States

Contacts
EV Energy Partners Lp
Gary Petersen
 Board of Director
 Houston ,Texas ,77002
 713-651-1144

George Lindahl
 Board of Director
 Houston ,Texas ,77002
 713-651-1144

James Larson
 Board of Director
 Houston ,Texas ,77002
 713-651-1144

John Walker
 Executive Chairman
 Houston ,Texas ,77002
 713-651-1144

Jud Walker
 Chief Geoscience Advisor
 Houston ,Texas ,77002
 713-659-3500

Ken Mariani
 Board of Director
 Houston ,Texas ,77002
 713-651-1144

Mark Houser
 Board of Director
 Houston ,Texas ,77002
 713-651-1144

Michael E Mercer
 Sr Vice President & CFO
 Houston ,Texas ,77002
 713-651-1144

Nicholas Bobrowski
 VP and CFO
 Houston ,Texas ,77002
 713-651-1144

Ron Gajdica
 Senior Vice President of Acquisitions & Divestitures
 Houston ,Texas ,77002
 713-495-6536

Terry Wagstaff
 VP Acquistions & Engineering
 Houston ,Texas ,77002
 713-651-1144

Victor Burk
 Board of Director
 Houston ,Texas ,77002
 713-651-1144


United States Related Financings

Announced Date Title Company Value($MM) Financing Type
2016-12-13 Parsley Repurchases $487 MM of 2022 Notes Parsley Energy Inc. 550 Redemption
2016-12-07 Antero Issues $600 MM in New Debt Antero Resources 550 Redemption
2016-10-04 Continental Resources Chips Away $600 MM From Long Term Debt Continental Resources, Inc. 600 Redemption
2015-10-08 SandRidge to Buyback $100 Million in Senior Notes Sandridge Energy, Inc. 100 Redemption