American Energy Partners, an affiliate of Oklahoma City-based American Energy Partners LP, boosts offering

American Energy — Utica LLC said Wednesday it has received an additional $1.25 billion in financing, bumping the total raised since October 2013 to $2.9 billion.
by Adam Wilmoth Published: February 20, 2014
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Aubrey McClendon’s new venture has raised the stakes again.

American Energy — Utica LLC said Wednesday it has received an additional $1.25 billion in financing, bumping the total raised since October to $2.9 billion.

The company is an affiliate of Oklahoma City-based American Energy Partners LP, which McClendon formed last year after leaving Chesapeake Energy Corp.

American Energy — Utica said Wednesday it has priced $750 million of seven-year 3.5 percent convertible subordinated notes. The sale, expected to close Feb. 27, is up from the $500 million announced previously. The notes are convertible into common stock when the company completes an initial public offering.

The company also said Wednesday that it will raise its borrowing limit $500 million to a total of $950 million.

The announcement comes two weeks after American Energy agreed to buy about 130,000 net acres in Ohio’s natural gas-rich Utica Shale from Hess Corp., Exxon Mobil Corp. and privately held Paloma Partners LLC.


by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
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