PVR Partners to Float Issue of New Units

PVR Partners (NYSE: PVR  ) is looking to widen its capital base with an offering of fresh partnership units. The company said it has commenced a 5.5 million-strong issue of common units in an underwritten public flotation. Additionally, the company expects to grant the offering's sole underwriter, Barclays, a 30-day purchase option for up to an additional 825,000 units.

PVR Partners said it plans to use the proceeds of the issue to repay debt incurred under its revolving credit facility. However, the company said it expects to occasionally reborrow amounts repaid under the facility "for general partnership purposes."

Currently, PVR Partners has just over 95.7 million units outstanding, and its stock trades at $24.11 per unit.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2635690, ~/Articles/ArticleHandler.aspx, 9/14/2014 10:37:47 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement