EV Energy Partners Prices 5.0 Mln Common Units At $36.86/Unit - Quick Facts

(RTTNews) - EV Energy Partners, L.P. (EVEP) has priced its public offering of 5 million common units was priced at $36.86 per unit to the public. The Partnership expects the delivery to occur on October 23, 2013. Further, the underwriters were granted an over-allotment option to buy up to 750,000 units.

Assuming no exercise of the over-allotment option, the Partnership expects to receive nearly $181.2 million of net proceeds, after deducting the underwriting discounts and commissions and estimated offering expenses, and including the Partnership's general partner's proportionate capital contribution.

In addition, the Partnership plans to use the offering's net proceeds, including the proceeds from any exercise of the over-allotment option of common units, to repay borrowings outstanding under its senior secured credit facility.

Wells Fargo Securities, Citigroup, J.P. Morgan, Raymond James, RBC Capital Markets, Baird, and Credit Suisse would act as joint book-running managers of the underwritten offering of units.