April 1, 2010 (FinancialWire) — Linn Energy, LLC (NASDAQ: LINE) and its subsidiary, Linn Energy Finance Corp., said a private offering to eligible purchasers of $1.3 billion in aggregate principal amount of 8.625% senior unsecured notes due 2020 at an offering price equal to 97.552% of par.

Linn Energy intends to use the majority of the net proceeds from the notes offering to reduce debt under its revolving credit facility. Additionally, a portion of the proceeds from the sale of the notes will be used to unwind certain interest rate swaps. The offering is expected to close on April 6, 2010, subject to satisfaction of customary closing conditions.

The senior unsecured notes will be offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

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