Penn Virginia Resource Partners to offer $300 million in notes, use proceeds to pay down debt

PVR to raise $300M in debt offering

RADNOR, Pa. — Oil and natural gas company Penn Virginia Resource Partners LP said Friday it plans to offer $300 million in debt in a public offering.

The company said it plans to use proceeds from the sale of the senior notes due 2018 to pay down outstanding loans.

Wells Fargo Securities LLC, BofA Merrill Lynch, J.P. Morgan Securities Inc. and RBC Capital Markets Corp. will act as joint book-running managers for the offering.