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EV Energy Partners Prices 3.5 Mln Units Offering At $67.95/Unit - Quick Facts

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EV Energy Partners L.P. (EVEP: Quote) said it has priced its public offering of 3.5 million common units at $67.95 per unit to the public. The Partnership expects the delivery to occur on February 15, 2012. In addition, the underwriters have an over-allotment option to buy up to 525,000 units. The offering was upsized to 3.5 million units from the original offering size of 3.2 million units.

The Partnership expects to receive net proceeds from the offering of nearly $233 million, after deducting the underwriting discounts and commissions and estimated offering expenses, and including the Partnership's general partner's proportionate capital contribution, assuming no exercise of the over-allotment option.

The partnership plans to use the net proceeds from the offering, including the proceeds from any exercise of the over-allotment option of common units, to repay indebtedness under its existing revolving credit facility.

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by RTT Staff Writer

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