Range plans to pay back $150 million senior loans with note proceeds

By Susanna Moon

Chicago, July 29 - Range Resources Corp. said it plans to pay down $150 million of its senior credit facility using proceeds from a note offering.

The company also will redeem $200 million principal amount of its 7 3/8% senior subordinated notes due 2013 with funding from the note issue.

Range said it intends to publicly offer $350 million of senior subordinated notes subject to market conditions.

Range Resources is a Fort Worth, Texas-based independent oil and gas company.

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