Range Resources to offer $100 million notes

By Paul A. Harris

St. Louis, June 7 - Range Resources Corp. plans to offer $100 million of senior subordinated notes, according to a 424B3 filing with the U.S. Securities and Exchange Commission on Monday.

"The deal has not been finalized," Rodney Waller, senior vice president of capital markets for Range Resources, told Prospect News.

Waller added that if the company elects to issue the bonds it will likely be a Rule 144A transaction.

The Fort Worth, Texas, independent oil and gas company is in the market with an approximately $116 million initial public offering, which is expected to close during the present week, via bookrunners JP Morgan and Friedman Billings Ramsey, according to a market source.

Proceeds would be used to finance a portion of the acquisition of a 50% stake in Great Lakes Energy Partners LLC.

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