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Apollo-backed EP Energy sets terms for $1 billion IPO

Posted
1/6/2014 4:50:00 PM
By: Renaissance Capital
Referenced Stocks:EPE

EP Energy, an Apollo-backed E&P of oil, natural gas and NGL in the US, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $1.0 billion by offering 40.0 million shares at a price range of $23 to $27. At the midpoint of the proposed range, EP Energy would command a market value of $6.2 billion.

EP Energy, which was founded in 2012 and booked $1.8 billion in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol EPE. Credit Suisse, J.P. Morgan, Citi, Goldman Sachs, Morgan Stanley, Deutsche Bank, UBS Investment Bank, BMO Capital Markets, RBC Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal.