Range Resources pricing $500 million 10-year notes Monday

By Paul Deckelman

New York, March 4 - Range Resources Corp. is offering $500 million senior subordinated notes due 2023, with pricing possible later in the session, syndicate sources said on Monday.

One described the deal as a "one-day drive-by transaction" likely to price this afternoon.

An investor call was scheduled to get under way at 11 a.m. ET.

The Rule 144A and Regulation S offering will come to market via J.P. Morgan Securities LLC, BofA Merrill Lynch, Wells Fargo, Securities, LLC, Barclays, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc.

Range Resources, a Fort Worth, Texas-based independent oil and natural gas exploration and production company, plans to use the deal proceeds to repay senior credit facility borrowings.

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