LINN Energy Offers $500MM of Senior Notes
LINN Energy announced plans to commence a private offering to eligible purchasers of $500 million in aggregate principal amount of its senior unsecured notes due 2020. The Company intends to use the majority of the net proceeds from the proposed $500 million notes offering to reduce debt under its revolving credit facility. A portion of the proceeds will also be used to unwind certain interest rate derivative contracts.
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