Please ensure Javascript is enabled for purposes of website accessibility

PVR Partners to Float Issue of New Units

By Eric Volkman - Sep 12, 2013 at 4:17PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The company will sell 5.5 million units in the offering.

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.

Fool contributor Eric Volkman has no position in PVR Partners. Nor does The Motley Fool. 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.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/14/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.