Market Overview

PVR Partners Prices Upsized Private Placement of $600 Million Senior Notes


Penn Virginia Resource Partners, L.P. (NYSE: PVR) today announced the pricing of its private placement of $600 million aggregate principal amount of senior notes due 2020 (the "Notes"). The offering of the Notes has been upsized from $450 million to $600 million. The Notes were priced at 100% of principal amount and will bear interest at a rate of 8.375% per year. The sale of the Notes is expected to close on May 17, 2012. The Notes will be fully and unconditionally guaranteed by PVR's existing and future domestic 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 under PVR's revolving credit facility.

Posted-In: News Financing Offerings


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