HOUSTON, Jan. 15, 2014 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq:LINE) and LinnCo, LLC (Nasdaq:LNCO) announced today that LINN Energy (the "Company") is offering (the "Offer") to purchase all of the outstanding 10.25% Senior Notes due 2014, 6.75% Senior Notes due 2020 and 6.375% Senior Notes due 2022 (collectively, the "Notes") of Berry Petroleum Company, LLC ("Berry"). On December 16, 2013, Berry became a wholly-owned subsidiary of LINN Energy, which constituted a Change of Control (as defined in the indenture governing each series of the Notes). Pursuant to the terms of the Notes, following a Change of Control, Berry is required to make an offer to purchase all or a portion of each series of Notes at a price of 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest to, but not including, the date of purchase (the "Change of Control Payment"). The Company has today offered to purchase for the Change of Control Payment all of Berry's outstanding Notes at the price described above. Any Notes that remain outstanding after consummation of the Offer will continue to be obligations of Berry under the indentures governing each series of the Notes.
LINN Energy Announces Notice Of Change Of Control And Offer To Purchase Berry Petroleum's Senior Notes
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