Following the announcement yesterday of its intention to offer 5.5 million common units of its limited partnership, PVR Partners (NYSE: PVR) issued a statement today saying it had priced the units at $23.00. Less underwriting fees, PVR could raise as much as $126.5 million in the offering. PVR closed at $24.11 a common unit on Sept. 12, 2013.

Following the issuance of the 5.5 million new common units, PVR now has 101,224,743 outstanding, according to its SEC filing related the offering. Underwriters of the unit offering have a 30-day option to purchase as many as 825,000 units, PVR said in its release.

The "immediate" use of the net proceeds, PVR said in its statement, will be used to pay down a portion of its revolving credit facility. As of Sept. 11, 2013, PVR had an outstanding balance of $467.5 million of revolving debt.

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.