Way Oversold, page-93

I see that BBEP has tapped EIG for almost $1B in HY SSN plus perpetual convertible notes.

Use of proceeds - pay down revolver (which was approx drawn down to $2.2B and facing redetermination on a much lower 1P NPV10 valuation).

That they got a new loan is great. Terms though fairly harsh (could be far worse though IMO). No covenants on the HY loan but hefty $60M pa interest bill getting added to their existing interest payments.

Believe that a further 50% reduction in dividends was also announced - to total $0.50 per unit. So approx $0.04167 per month.