Rice Energy to sell $400 million eight-year notes in Monday drive-by

By Paul A. Harris

Portland, Ore., March 23 – Rice Energy Inc. plans to price a $400 million offering of eight-year senior notes (expected ratings B3/B-) on Monday, according to a syndicate source.

An investor conference call is scheduled to get underway at 11:30 a.m. ET.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S with registration rights offering. Barclays, Goldman Sachs & Co., RBC Capital Markets LLC and Citigroup Global Markets Inc. are the joint bookrunners.

Comerica, BMO Securities, Capital One, SunTrust Robinson Humphrey Inc. and Fifth Third Bank are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The Canonsburg, Pa., independent oil and gas company plans to use the proceeds for general corporate purposes, including capital expenditures.

Rice Energy is engaged in the acquisition, exploration and development of natural gas, oil and NGL properties in the Marcellus Shale in southwestern Pennsylvania and the Utica Shale in southeastern Ohio.

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