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Range plans to pay down debt pending redemption of 6¾% notes due 2020
By Susanna Moon
Chicago, May 7 – Range Resources Corp. said it plans to repay debt under its credit facility pending the planned redemption of its 6¾% senior subordinated notes due 2020.
The company expects to redeem the notes in August using drawdowns under its credit facility, according to a company press release.
Range said it expects to fund the redemption and paydown using proceeds of a $500 million private placement of senior notes due 2025.
Range Resources is a Fort Worth-based independent gas and oil company.
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