Sable Permian Resources, LLC Announces the Merger of Assets with American Energy - Permian Basin, LLC

October 18, 2019

HOUSTONOct. 17, 2019 /PRNewswire/ -- Sable Permian Resources, LLC (the "Company") announces the merger of assets with American Energy – Permian Basin, LLC ("AEPB") and the successful completion of AEPB's previously announced comprehensive and consensual debt recapitalization transaction (the "Recapitalization Transaction").

Pursuant to the Recapitalization Transaction, AEPB repurchased approximately $2.1 billion of its outstanding 13.000% Senior Secured First Lien Notes due 2020, 8.000% Senior Secured Second Lien Notes due 2020, Floating Rate Senior Notes due 2019, 7.125% Senior Notes due 2020 and 7.375% Senior Notes due 2021 and issued approximately $708 million aggregate principal amount of new 12.000% Senior Secured Notes due 2024. In connection with the Recapitalization Transaction, AEPB, through its wholly-owned subsidiary AEPB Acquisition Company, LLC, ("AcqCo") also entered in to an amended and restated credit facility.

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Sable Permian Resources, LLC Announces the Merger of Assets with American Energy - Permian Basin, LLC | Blog