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Memorial Production Partners LP Announces Pricing Of A $300 Million Offering Of Additional Senior Notes

HOUSTON, Oct. 7, 2013 (GLOBE NEWSWIRE) -- Memorial Production Partners LP (Nasdaq:MEMP) and its wholly owned subsidiary, Memorial Production Finance Corporation, announced today the pricing of their offering of $300 million in aggregate principal amount of their 7.625% senior unsecured notes due 2021. The notes are being offered as additional notes under the same indenture pursuant to which their existing $400 million of 7.625% senior notes due 2021 (the "Existing Notes") were issued. The Existing Notes and the additional notes will be treated as a single class under the indenture. The additional notes will be issued at an offering price of 97.0% of the principal amount, for a yield to worst of 8.163%. The offering is expected to close on October 10, 2013, subject to customary closing conditions.

MEMP intends to use the net proceeds from the private placement to repay a portion of the outstanding borrowings under its revolving credit facility and for general partnership purposes.

The securities to be sold have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. MEMP offered the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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.

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