Range Resources to use note proceeds to pay down $350 million facility

By Tali David

Minneapolis, Feb. 24 - Range Resources Corp. plans to use the proceeds of its $500 million senior note offering to repay up to $350 million of borrowings under its senior credit facility, the company announced in a press release.

The company said it intends to use the remaining proceeds to fund its 2012 capital expenditure budget and for general corporate purposes.

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

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