Market Overview

PVR Partners, L.P. Announces Pricing of Public Offering of 6.5M Common Units


PVR Partners (NYSE: PVR) today announced the pricing of the public offering of 6,500,000 common units representing limited partner interests in PVR. The common units were priced at $23.11 per unit. In connection with the offering, PVR granted the underwriters a 30-day option to purchase a maximum of 975,000 additional common units to cover over-allotments, if any. PVR expects to close the sale of the common units on November 15, 2012, subject to customary closing conditions.

PVR estimates that the net proceeds from the offering will be approximately $144.0 million (or $165.5 million if the underwriters exercise in full their option to purchase additional common units) after deducting underwriting discounts and commissions and estimated expenses, and intends to use all of the net proceeds from the offering to repay a portion of the borrowings outstanding under its revolving credit facility.

Wells Fargo Securities, BofA Merrill Lynch, Barclays, Citigroup, J.P. Morgan, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers in connection with the offering. BB&T Capital Markets is acting as a co-manager in connection with the offering. Copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from the underwriters as follows:

Posted-In: News Offerings


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