Penn Virginia to prepay senior unsecured notes due 2013

By Devika Patel

Knoxville, Tenn., June 17 - Penn Virginia Operating Co., LLC will buy back all of its $58.4 million in outstanding senior unsecured notes due 2013 on July 17, according to an 8-K filed Tuesday with the Securities and Exchange Commission by parent company Penn Virginia Resource Partners, LP.

The company will pay $62.53 million for the notes, which includes the principal plus $1.07 million in unpaid interest through the prepayment date and an estimated $3.06 million in make-whole amounts.

Penn Virginia Resource Partners does business through its subsidiary, Penn Virginia Operating. The companies are based in Radnor, Pa., and manage coal properties and gather and process natural gas.

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