The Firm represented the underwriters, led by Barclays Capital Inc., in connection with a registered offering by Linn Energy, LLC and Linn Energy Finance Corp. as co-issuers of $650 million aggregate principal amount of 6.5% senior notes due 2021 and $450 million aggregate principal amount of 6.5% senior notes due 2019. The senior notes due 2019 were issued as additional notes under an indenture pursuant to which Linn Energy issued $750 million of 6.5% senior notes due 2019 on May 13, 2011. The net proceeds from the offering were used to repay the Company’s bridge loan agreement, which was entered into to finance the acquisition of certain oil and natural gas properties and related assets of Devon Energy Corporation, and to repay certain indebtedness outstanding under the Company’s revolving credit facility. The offering closed on September 9, 2014.
Linn Energy is a publicly traded, independent oil and natural gas company focused on the development and acquisition of long-life oil and natural gas properties, which complement its asset profile in various producing basins within the U.S.
The Simpson Thacher team included Ken Wallach, Jonathan Ozner and Dan Areshenko (Capital Markets & Securities); Jon Cantor and Taylor Alexander (Tax); Mike Isby (Environment); David Mollo-Christensen (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).
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