BreitBurn plans paydown on bank facility with units offering proceeds

By Susanna Moon

Chicago, Nov. 12 - BreitBurn Energy Partners LP said it plans to pay down debt under its bank credit facility using proceeds of a public offering of common units.

The company began a public offering of 15 million common units representing limited partner interests in the partnership with plans for a 30-day greenshoe for 2.25 million more units, according to a company press release.

BreitBurn is a Los Angeles-based oil and gas master limited partnership focused on the acquisition, exploitation, development and production of oil and gas properties.

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