Market Overview

PVR Partners Announces Proposed Private Placement of $450 Million of Senior Notes Due 2020


Penn Virginia Resource Partners, L.P. (NYSE: PVR) today announced that it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of $450 million aggregate principal amount of senior notes due 2020. The notes will be fully and unconditionally guaranteed by PVR's existing and future domestic restricted subsidiaries, subject to certain exceptions. PVR intends to use up to $220 million of the net proceeds from the offering to fund a portion of the purchase price for its previously announced pending acquisition of Chief Gathering LLC and the remainder of the net proceeds to repay a portion of the borrowings outstanding PVR's revolving credit facility.

Posted-In: News Financing Offerings


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