Rice Drilling to launch $300 million second-lien term loan Thursday

By Sara Rosenberg

New York, March 19 - Rice Drilling B LLC will hold a bank meeting at 1:30 p.m. ET on Thursday to launch a $300 million 51/2-year senior secured second-lien term loan, according to a market source.

Barclays is the lead arranger on the deal.

Proceeds will be used to repay existing debt, to redeem convertibles and for general corporate purposes, including capital expenditures and acquisitions.

Rice Drilling is a Canonsburg, Pa.-based natural gas exploration and production company.

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