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Prospect News home > News index > List of issuers Tenders > Headlines for 2014 > News item
Published on 6/24/2014 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Memorial Resource Development to redeem 10%/10¾% PIK toggle notes

By Angela McDaniels

Tacoma, Wash., June 24 – Memorial Resource Development Corp. plans to redeem in full its 10%/10¾% senior PIK toggle notes due 2018, according to an 8-K filing with the Securities and Exchange Commission.

The company will pay par plus any applicable premium and accrued interest, if any, to the redemption date.

The company will fund the redemption with proceeds from its initial public offering. It sold $408.5 million of common stock in its IPO for $382.1 million of net proceeds.

Memorial Resource Development is a natural gas and oil company based in Houston.


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