Penn Virginia to pay down some revolver debt with proceeds from 3.5 million shares sale

By Sara Rosenberg

New York, May 18 - Penn Virginia Corp. plans to repay a portion of its revolving credit facility borrowings using proceeds from the sale of 3.5 million shares of common stock, according to a news release.

Remaining proceeds from the offering will be used for general corporate purposes.

Penn Virginia is a Radnor, Pa.-based independent natural gas and oil company.

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