Global Hunter Comments On EVEP Senior Note Issue

Global Hunter Securities is commenting on EV Energy Partners, L.P. (NASDAQ: EVEP), which issued $300MM (upsized from $250MM) of 8% Senior Notes (rated B3/B-) due 2019 at par.

“EVEP intends to use the net proceeds of $291.7MM to repay indebtedness under its existing revolving credit facility ($619MM outstanding at 12/31/10),” Global Hunter writes.

EV Energy Partners closed Thursday at $44.66.