January 12, 2012

LINN Energy Announces Pricing of Its Public Offering of 17,000,000 Units

HOUSTON, Jan. 12, 2012 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq:LINE) announced today the pricing of its public offering of 17,000,000 units of its limited liability company interests at a price to the public of $35.95 per unit. The underwriters have an option to purchase up to an additional 2,550,000 units from the Company at the public offering price less the underwriting discount. The offering is expected to settle and close on January 19, 2012, subject to customary closing conditions.

The Company expects to receive net proceeds from the offering of approximately $586 million (or approximately $674 million if the underwriters exercise their option to purchase additional units in full). Net proceeds from the offering are expected to be used to repay a portion of the indebtedness outstanding under the Company's revolving credit facility.

Wells Fargo Securities, BofA Merrill Lynch, Barclays Capital, Citigroup, Raymond James, RBC Capital Markets, UBS Investment Bank, Credit Suisse, Goldman Sachs & Co. and J.P. Morgan acted as joint book-running managers for the offering. A copy of the prospectus supplement and the base prospectus relating to the offering may be obtained from:

Wells Fargo Securities RBC Capital Markets, LLC 
Attn: Equity Syndicate Dept.  Attn: Equity Syndicate
375 Park Avenue  Three World Financial Center
New York, NY 10152 200 Vesey Street, 8th Floor
Phone: (800) 326-5897 New York, NY 10281-8098
Email: cmclientsupport@wellsfargo.com Phone: (877) 822-4089
   
BofA Merrill Lynch  UBS Investment Bank 
Attn: Prospectus Department Attn: Prospectus Department 
4 World Financial Center 299 Park Avenue 
New York, NY 10080 New York, NY 10171 
Email: dg.prospectus_requests@baml.com Phone: (888) 827-7275
   
Barclays Capital Credit Suisse Securities (USA) LLC
c/o Broadridge Financial Solutions Attn: Prospectus Department
1155 Long Island Avenue One Madison Avenue, 1B
Edgewood, NY 11717 New York, NY 10010
Phone: (888) 603-5847 Phone: (800) 221-1037
Email: Barclaysprospectus@broadridge.com  
   
Citigroup  Goldman Sachs & Co.
Attn: Prospectus Department Attn: Prospectus Department
Brooklyn Army Terminal 200 West Street
140 58th Street, 8th Floor New York, NY 10282
Brooklyn, NY 11220 Phone: (866) 471-2526
Phone: (800) 831-9146 Email: prospectus-ny@ny.email.gs.com
Email: batprospectusdept@citi.com   
   
Raymond James & Associates, Inc.  J.P. Morgan Securities LLC
Attn: Equity Syndicate   c/o Broadridge Financial Solutions
880 Carillon Parkway  1155 Long Island Avenue
St. Petersburg, FL 33716 Edgewood, NY 11717
Phone: (800) 248-8863 Telephone: (866) 803-9204

This press release does not constitute an offer to sell or a solicitation of an offer to buy units or any other securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of the prospectus supplement and the related base prospectus.

This press release includes "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include the Company's plans to complete a public offering of units of its limited liability company interests and the use of proceeds therefrom. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, including market conditions, operational developments with respect to the Company and other factors described in the Company's reports filed with the SEC. Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

The LINN Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6573

CONTACT: LINN ENERGY, LLC

         

         Investors:

         Clay Jeansonne, Vice President - Investor Relations

         281-840-4193

         

         Media:

         Paula Beasley, Manager, Public Affairs & Communications

         281-840-4183


Close window | Back to top


Copyright 2014 LINN Energy