American Energy Permian Holdings LLC opened a private offer of $800 million in exchangeable junior subordinated notes, its affiliate American Energy-Permian Basin LLC (AEPB) said Oct. 29.

The notes are due 2022.

Net proceeds will support AEPB’s pending acquisitions and development drilling. They will also repay outstanding revolving credit facility borrowings and support general corporate purposes.

AEPB is an affiliate of Oklahoma City-based American Energy Partners LP.