Linn Energy LLC - 2011-03-01
Description
Priced its public offering of 16 million units of its limited liability company interests at a price to the public of $38.80 per unit.
The company intends to use the proceeds to fund its pending acquisitions of oil properties in the Williston Basin and Permian Basin and to fund a portion of its pending tender offer for the company's senior notes due 2017 and senior notes due 2018 and related expenses. Any remaining net proceeds are expected to be used for general corporate purposes.
Citi, Barclays Capital, RBC Capital Markets, UBS Investment Bank, BofA Merrill Lynch, Credit Suisse, Raymond James and Wells Fargo Securities are joint book-running managers.