Key Developments For Linn Energy, LLC
Linn Energy, LLC (LINE.O) (Nasdaq)
Linn Energy, LLC Issues Q4 2009 EBITDA Guidance; Raises FY 2009 EBITDA Guidance
Linn Energy, LLC announced that it expects to generate adjusted EBITDA of $139.25 million for the fourth quarter 2009 and $563 million for fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report EBITDA of $143.47 million for the fourth quarter 2009 and EBITDA of $561 million for fiscal 2009.
Linn Energy, LLC Announces Cash Distribution
Linn Energy, LLC announced a cash distribution for the third fiscal quarter of 2009 of $0.63 per unit, or $2.52 per unit on an annualized basis, for all of its outstanding units. The distribution will be payable on November 13, 2009, to unitholders of record at the close of business on November 6, 2009.
Linn Energy, LLC Announces Pricing Of Public Offering Of 7.5 Million Units
Linn Energy, LLC announced the pricing of its public offering of 7,500,000 units of its limited liability company interests at a price of $21.90 per unit. The underwriters have an option to purchase up to an additional 1,125,000 units from the Company at the public offering price less the underwriting discount. The offering is expected to settle and close on October 13, 2009, subject to customary closing conditions. The Company expects to receive net proceeds of approximately $157 million (or $181 million if the underwriters exercise their option to purchase an additional 1,125,000 units) from the offering and intends to use all of the proceeds for the repayment of debt under LINN Energy's revolving credit facility. Citi, Barclays Capital and RBC Capital Markets acted as joint book-running managers for the offering.
Linn Energy, LLC Announces Public Offering of Units
Linn Energy, LLC announced that it plans to make a public offering of 6,000,000 units of its limited liability company interests pursuant to an effective shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission. LINN Energy has granted the underwriters a 30-day option to purchase up to an additional 900,000 units. Net proceeds from the offering are expected to be used for the repayment of debt under LINN Energy's revolving credit facility. Citi, Barclays Capital and RBC Capital Markets will act as joint book-running managers for the offering.
Linn Energy, LLC Issues Q3, FY 2009 EBITDA Guidance Below Analysts' Estimates-Conference Call
Linn Energy, LLC announced that it expects to generate adjusted EBITDA of approximately $136 million for the third quarter 2009 and approximately $553 million for fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report EBITDA of $140 million for the third quarter 2009 and EBITDA of $598 million for fiscal 2009.
