EP Energy LLC
Description
EP Energy LLC intends to offer $1,000 million aggregate principal amount of its senior secured notes due 2026 in a private placement. The liens on the collateral securing the notes will be junior to the liens on the collateral securing EP Energy's senior secured RBL facility and senior to the liens on the collateral securing each tranche of EP Energy's existing senior secured notes.
The issuers intend to use the proceeds from the offering of the notes, together with available cash on hand to repay amounts outstanding under EP Energy's senior reserve based revolving credit facility, for other general corporate purposes and to pay related fees and expenses.